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Germany: Watchdog okays real estate buyout

By  |  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.

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.

Full Content: RTT News

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