RREEF IN TALKS W/ BORLETTI, QATARI INVESTORS ON PRINTEMPS SALE
(The following is a reformatted version of a press release issued by RREEF Real Estate and received via electronic mail. The release was confirmed by the sender.)
London 20 February 2013
RREEF Real Estate enters exclusive negotiations in the sale of its stake in Printemps, France
RREEF Real Estate, the real estate investment business of Deutsche Bank’s Asset & Wealth Management division, announced today that it has entered into exclusive negotiations with the Borletti Group in association with Qatari investors, for the acquisition of its stake in Printemps.
The acquisition is subject to Works Council approval and the French Anti-trust authority.
RREEF Real Estate purchased Printemps in 2006 from the PPR group in association with the Borletti Group.
France Printemps is a group of department stores specialising in fashion, beauty and decorative items with an excellent reputation both in France and abroad, due mainly to its flagship store on boulevard Haussmann in Paris.
About RREEF Real Estate RREEF Real Estate is the real estate investment business of Deutsche Bank’s Asset & Wealth Management division. During the past 40 years, RREEF Real Estate has built a leading real estate investing business, with approximately 500 professionals located in 22 locations around the world and €41.0 billion in assets under management as of September 30, 2012. RREEF Real Estate employs a disciplined investment approach and offers a diverse range of strategies and solutions across the risk/return and geographic spectrums, including core and value-added real estate, real estate and infrastructure securities, real estate debt and opportunistic real estate. RREEF Real Estate aims to deliver superior long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, and retirement plans worldwide. To learn more about RREEF Real Estate, go to www.rreef.com.
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