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Deutsche clocks up second deal for Varta

Deutsche Bank has advised Varta, the German batteries business, on its second corporate finance deal in eight days.

Varta has just agreed to sell its automotive battery division to Johnson Controls for €313m ($303m). This follows on from a deal eight days ago, when Varta, advised by Deutsche Bank, sold its global consumer battery business to Rayovac, a US consumer battery company, for €262m.

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