Cerberus Said to Pick Banks for Large German Retail-Property IPO
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Private equity firm Cerberus Capital is planning to move forward with an IPO of its German retail-property assets.
According to reports, Goldman Sachs (NYSE: GS), JPMorgan Chase (NYSE: JPM), and Bank of America (NYSE: BAC) are said to be tapped to run the offering, which may draw in around $2.6 billion (€2 billion). Commencement of the offering might happend in the latter part of 2013, Bloomberg reports.
Investors are looking to capitalize on soarting property prices. In January, Goldman raised about €1.3 billion for the IPO of LEG Immobilien, a landlord in Germany. JPMorgan and Morgan Stanely have also been tapped for the IPO of Terra Firma Capital unit Deutsche Annington Immobilien.
According to reports, Goldman Sachs (NYSE: GS), JPMorgan Chase (NYSE: JPM), and Bank of America (NYSE: BAC) are said to be tapped to run the offering, which may draw in around $2.6 billion (€2 billion). Commencement of the offering might happend in the latter part of 2013, Bloomberg reports.
Investors are looking to capitalize on soarting property prices. In January, Goldman raised about €1.3 billion for the IPO of LEG Immobilien, a landlord in Germany. JPMorgan and Morgan Stanely have also been tapped for the IPO of Terra Firma Capital unit Deutsche Annington Immobilien.
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