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Deutsche Bank has agreed to sell its 20-percent stake in China's Hua Xia Bank to PICC Property and Casualty Co. for over 3.3 billion US dollars.
德意志银行同意出售旗下中国华夏银行20%的股份，买方是中国人民保险公司财产保险有限公司，交易额达33亿多美元。
Germany's biggest lender says the completion of the transaction will be subject to customary closing conditions and regulatory approvals.
Deutsche Bank says it is looking forward to working with PICC on the transition of its investment here in China.
The bank says the sale will boost its capital ratio.
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