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Middle EastMay 1 2005

Deutsche and ACIC team up for joint venture in Saudi Arabia

Deutsche Bank and Saudi Arabia’s Al Azizia Commercial Investment Company (ACIC) signed a joint proposal, in mid-April, for the establishment of an investment banking joint venture.

by Banker Editor

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Together, the two intend to provide equities brokerage and other investment banking services in the Kingdom of Saudi Arabia.

Prince Alwaleed bin Talal bin Abdulaziz Al Saud, chairman of ACIC and a prominent global investor with significant stakes in Disney and Citigroup, signed the agreement for ACIC while Anshu Jain, co-head of the corporate and investment bank signed for Deutsche Bank.

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