Deutsche Bank unit in talks to sell Printemps stake

PARIS Wed Feb 20, 2013 4:25am EST

PARIS Feb 20 (Reuters) - RREEF, Deutsche Bank's real estate investment unit, said on Wednesday it had started exclusive talks to sell its stake in French department store group Le Printemps to its Italian partner, the Borletti Group, and Qatari investors.

Printemps is 70 percent owned by RREEF and 30 percent by the Borletti Group, headed by Italian businessman Maurizio Borletti.

RREEF and Borletti bought Printemps from French retail and luxury giant PPR for 1.1 billion euros ($1.47 billion) in 2006. ($1 = 0.7487 euros) (Reporting by Dominique Vidalon; Editing by James Regan)

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