Deutsche Bank's RREEF in Talks to Sell Printemp Stake

Deutsche Bank AG’s RREEF real estate investment unit said it’s in exclusive talks to sell its 70 percent stake in French department store operator Printemps to co-owner Borletti Group and Qatari investors.

The parties started the negotiations today, RREEF and Borletti, which owns 30 percent of Printemps, said in a statement. No further details were provided.

Italian investor Maurizio Borletti, the group’s owner, doesn’t want to sell his holding, a spokeswoman told Bloomberg in December.

The latest negotiations could end rival Groupe Galeries Lafayette’s chances of buying Printemps.

“Galeries Lafayette never hid its interest in Printemps,” the company said in an e-mailed statement. “The group will keep a close eye on how the deal unfolds.”

Dalian Wanda Group Corp. is also interested in Printemps, Senior Vice President Hu Zhanghong told French newspaper Les Echos in December.

To contact the reporter on this story: Andrew Roberts in Paris at

To contact the editor responsible for this story: Celeste Perri at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.