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Gagfah stake placed at 10.15 eur/shr - bank
December 4, 2013 / 10:12 AM / 4 years ago

Gagfah stake placed at 10.15 eur/shr - bank

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)

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