Gagfah stake placed at 10.15 eur/shr - bank

FRANKFURT Wed Dec 4, 2013 5:04am EST

Related Topics

FRANKFURT Dec 4 (Reuters) - Deutsche Bank said on Wednesday it had placed 15 million shares in Gagfah , at 10.15 euros apiece on behalf of the German real estate group's largest shareholder Fortress Investment Group LLC.

According to Thomson Reuters data, Gagfah has 216 million shares outstanding, which means a 6.9 percent stake was placed on the open market.

The shares extended losses to trade 4.3 percent lower at 10.16 euros at 0957 GMT.

Fortress holds a 48.2 percent stake in the company, Gagfah's website shows.

The placement was originally planned at up to 10 million shares. (Reporting by Ludwig Burger; editing by Victoria Bryan)