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  • Reuterslast month

    German real estate group IVG plans $3.3 bln asset sale - sources

    German real estate group IVG is launching a 3 billion euro ($3.3 bln) asset sale as its hedge fund owners hope to lock in high prices in the country's buoyant property market, three people familiar with the matter said. IVG, which went through insolvency proceedings in 2013 after cost overruns at its landmark Squaire building at Frankfurt airport made debt levels unsustainable, has sent out first information packages to prospective bidders, they said. The sale could also be in the form of an initial public offering and IVG has hired Deutsche Bank and Goldman Sachs to organise a potential stock market listing, which could take place as early as autumn 2016.

  • Reuterslast month

    German real estate group IVG to launch 3 billion eur sale - sources

    Real estate group IVG is launching a roughly 3 billion euro ($3.3 billion) asset sale as its hedge fund owners are hoping to lock in high prices in a buoyant German property market, three people familiar with the matter said. IVG, which went through insolvency proceedings in 2013 after cost overruns at its landmark Squaire building at the Frankfurt airport made debt levels unsustainable, has sent out first information packages to prospective bidders, they said. Deutsche Bank and Goldman Sachs are organising the potential stock market listing - which may take place as early as autumn 2016 - or alternatively a potential sale.