Deutsche Bank’s exclusive negotiations with Guggenheim Partners over a potential sale of RREEF, the German bank’s alternative asset management business, have ended after both parties failed to agree on sale terms.

“The parties were unable to agree on terms for the sale of the business and mutually agreed to end exclusive negotiations,” according to a statement from Deutsche Bank late yesterday.

Meanwhile, Frankfurt-listed Deutsche Bank said that the strategic review of its global asset management division, started last November, has concluded. It will issue a further update on its asset and wealth management division in September. The review covered all of the asset management division globally except for the DWS franchise in Germany, Europe and Asia, which the bank had already determined was a core part of its retail offering in those markets.