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Fortress set to place Gagfah shares at 12.34 euros each - sources
June 10, 2014 / 8:42 AM / 3 years ago

Fortress set to place Gagfah shares at 12.34 euros each - sources

FRANKFURT, June 10 (Reuters) - Private equity firm Fortress Investment Group LLC is set to place shares in German real estate group Gagfah SA at 12.34 euros ($16.80) each, two financial sources told Reuters on Tuesday.

Gagfah said the sale of the remaining shares, nearly 60 million in all, held by Fortress was the “final logical step” to end its involvement in the real estate group.

The share placement was organised by Deutsche Bank.

The bank and Gagfah declined comment on the price.

$1 = 0.7345 Euros Reporting by Alexander Huebner; Writing by Marilyn Gerlach; Editing by Victoria Bryan

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