Arcandor agrees massive property sale with Pirelli-RREEF syndicate

By A staff reporter 2007-12-13T00:00:00

Arcandor, the largest department store owner in Germany, has signed a letter of intent to sell its 49% stake in the EUR 4.7 bn Highstreet real estate company to a syndicate of Deutsche Bank's RREEF unit, Milan-based Pirelli Real Estate and the Italian family-run Borletti Group. Arcandor said earlier it ...

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