Goldman Plans IPO of German Homes Unit With $6.1 Billion

Goldman Sachs Group Inc., the bank that sold its stake in Germany’s largest department store last month, plans to sell shares in a unit that owns homes valued at 4.7 billion euros ($6.1 billion) in the country.

An initial public offering of LEG Immobilien GmbH is planned for the first half, LEG said in a statement today. The sale may raise as much as 1 billion euros, said two people with knowledge of the plan. Another person familiar with the IPO said it will probably take place in early February. Both people asked not to be identified because the matter is private.