Feb 20, 2014
Deutsche Bank Pays $1.1 Billion to Settle Kirch Dispute
Deutsche Bank Pays $1.1 Billion to Settle Kirch Dispute
By Karin Matussek and Nicholas Comfort
Deutsche Bank AG will pay more than 775 million euros ($1.1 billion) to settle a 12-year-old dispute with the heirs of Leo Kirch over the collapse of his media group.
The settlement, after existing provisions, will decrease fourth-quarter profit by about 350 million euros, the bank said in an e-mailed statement today. Kirch’s family was seeking a total of…
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