PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Berlin Senate said to agree IPO of GSW majority stake
The Berlin Senate has reached agreement with GSW, part owned by Goldman Sachs' Whitehall Funds and private equity group Cerberus, for it to move ahead with an initial public offering - floating more than the originally agreed 49% maximum as early as May. Berlin Senator Ulrich Nussbaum is expected to announce the agreement tomorrow, according to the Handelsblatt newspaper. GSW owners will make a E30m payment to Berlin city-state to compensate for deleting the 49% equity cap on an IPO contained in the original 2004 purchase agreement. (See upcoming PIE Editions for full story)