Dresdner Bank sells property portfolio to Fortress for 'well over' 2.0 bln eur
FRANKFURT (AFX) - Allianz AG's Dresdner Bank said it sold its real estate
portfolio to US-based Fortress Investment Group for well over 2.0 bln eur.
The bank said it will use the capital in its "considerably more profitable
retail banking operations", without being any more specific.
The sale contract will be signed before Christmas and the sale will be
complete by early 2006.
The real estate portfolio consists of 300 properties, most of which are used
by Dresdner, but it does not include certain buildings at its Frankfurt
headquarters.
alfred.kueppers@afxnews.com
amk/jsa
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
Rogers stock quotes
Rogers stock charts
Follow this thread
