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GSW flotation size hinges on Berlin parliament vote
The nearly 50,000-apartment GSW housing company in Berlin is in full preparation for an initial public stock market offering before the end of the second quarter, and should know next week if it can float more than 49% of its capital, says a spokesman. The group, acquired jointly in 2004 by US private equity group Cerberus and Goldman Sachs' Whitehall Funds, has approval by the Berlin Senate Upper House to float more than the original contractual cap of 49%. Final approval hinges on a vote in the Berlin Lower House scheduled for Monday. Its portfolio is worth around E2.6bn. (See upcoming PIE editions for full story)