Leading SA firms hit by Deutsche Bank's global restructuring
South African companies will feel the effects of Deutsche Bank’s global restructuring as it scales back some of its advisory, corporate broking and sponsor services. Impala Platinum (Implats), AngloGold Ashanti and Sasol are some of the companies that will be scrambling to find new JSE sponsors as Deutsche Bank reviews its global portfolios. Implats spokesman Johan Theron said Impala had been notified about the restructuring and the bank’s ability to remain its sponsor. He said that Implats was due to meet with the bank to find a way forward but the company had about six months to find a new sponsor. AngloGold Ashanti spokesman Chris Nthite also confirmed that Deutsche Bank had notified the business of their intentions to withdraw as a corporate sponsor. He said Deutsche had given AngloGold six months to find a new sponsor. "Work is under way in that respect," Nthite said. A source who did not want to be named said companies such as AngloGold and Implats were already doing a "beauty...
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