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Next Issue Monday
13 September 2010
Featured Events
- CoreNet Global Summit
27-29 September 2010
London, UK
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25-26 October
London, UK
- MAPIC 2010
17-18-19 November 2010
Cannes, France
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)