FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019. REUTERS/Simon Dawson

FRANKFURT (Reuters) - Deutsche Bank DBKGn.DE has sold $50 billion in unwanted assets to Goldman Sachs GS.N as part of its restructuring, three people with knowledge of the matter said on Wednesday.

The assets, related to emerging-market debt, were part of Deutsche’s unit to wind down unwanted securities, the people said, confirming a development first reported by Bloomberg.

As part of a broad overhaul, Deutsche has hived off billions in assets into a so-called capital release unit, also called a bad bank. The sale to Goldman marks the latest in a series of disposals of such assets.

The unit contained 177 billion euros ($195 billion) in leverage exposure at the end of the third quarter. The bank aims to reduce that to 119 billion euros by the end of this year.

It is unclear how much the sale to Goldman chips away at that goal because the nominal $50 billion is not comparable to leverage exposure, a measure of risk.

Goldman purchased the debt at a deep discount and believes it can make a modest profit on the deal, according to a fourth person familiar with the matter. The book likely includes derivatives, as well as emerging-market debt, the person added.

Deutsche has said it sold packets of equity derivatives in three auctions. It is now trying to sell more complex equity derivatives, a process that will take a couple of years.

Deutsche has also struck a deal to transfer its prime brokerage business to BNP Paribas BNPP.PA.

Deutsche Bank and Goldman Sachs declined to comment.