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LEG Immobilien GmbH Eyes EUR1.4 Billion IPO;Goldman Sachs Group Inc's Subsidiary to Cut Stake-Reuters

Saturday, 19 Jan 2013 02:06pm EST 

Reuters reported that LEG Immobilien GmbH is hoping to raise up to EUR1.43 billion ($1.90 billion) in its planned initial public offering. Including a possible over-allotment option, the two financial investors behind LEG will put 57.5% of the share capital up for sale as part of the flotation, without issuing new shares. Majority owner Whitehall, a Goldman Sachs investment fund, will cut its stake to 33.4% from 89% and 11% owner Perry Capital will reduce its holding to a little over 9%. The offer will reap between EUR1.249 billion and 1.431 billion if the over-allotment portion is exercised in full, LEG added. Goldman Sachs and Deutsche Bank are the main banks managing the transaction.