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Germany: Watchdog okays real estate buyout

 |  September 2, 2013

Germany’s Federal Cartel Office has reportedly cleared the acquisition of real estate firm GSW Immobilien by property developer Deutsche Wohen, the involved parties announced Friday.

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    Reports value the exchange at more than $2.3 billion. Despite the clearance, the transaction remains subject to shareholder approval.

    Deutsche Wohen first announced its agenda to acquire the company last month. In a statement, the company says the deal will result in a top residential property firm including a portfolio of about 150,000 units.

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