BRUSSELS/FRANKFURT (Reuters) - Kleinwort Benson owner RHJ International (>> RHJ INTERNATIONAL) and a group of co-investors have made a fresh attempt at winning approval to acquire Deutsche Bank's (>> Deutsche Bank AG) BHF-Bank, this time without former co-investor Blackrock (>> BlackRock, Inc.).

A previous deal proposal from the consortium including Blackrock had been held up by Germany's financial markets watchdog Bafin.

Under the latest proposed 354 million euro (303 million pounds) deal, London brokerage Kleinwort Benson will acquire 91 percent of BHF for 322 million euros in cash, while RHJI will acquire the remainder by issuing shares to Deutsche Bank, RHJI said on Wednesday.

Brussels-based RHJI said investment firm Blackrock, which was initially set to become a co-investor, decided to withdraw from the deal.

A Deutsche Bank spokesman confirmed the deal structure and said the lender was confident that the deal would go through.

RHJI and the remaining co-investors, China's Fosun Group (>> Fosun International Limited), BMW (>> Bayerische Motoren Werke AG) heir Stefan Quandt and funds controlled by U.S. investor Timothy C. Collins, agreed to increase their funding to step into the breach.

One of the people familiar with the approval process had told Reuters in August that German regulator Bafin, which has been evaluating the consortium, had asked Blackrock to provide details about how it would support BHF in a crisis.

Another person familiar with the matter had said at the time that a key concern was whether Blackrock would take part in a capital increase in the event that further funds need to be provided to support BHF.

RHJI said on Wednesday it was "confident that we will be able to obtain formal regulatory decisions from all of the necessary regulators in the coming weeks".

(Editing by David Cowell and David Holmes)

By Robert-Jan Bartunek and Ludwig Burger