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Deutsche Bank Sells Abbey Life Unit To Phoenix for $1.2B

By Fola Akinnibi (September 28, 2016, 3:31 PM EDT) -- Deutsche Bank AG agreed to sell its Abbey Life insurance business to Phoenix Group Holdings in a £935 million ($1.22 billion) deal on Wednesday, as the bank gears up for a fight with U.S. regulators over a $14 billion settlement stemming from its mortgage-backed securities sales practices....

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