The planned billion Euro land sale by the Deutsche Bahn is still in the open. 'Nobody signed any contract', according to CEO of the Deutsche BahnÂ's real estate company Aurelis, Willi Pfaffenhausen. 'We are still negotiating and we expect to reach agreement by the end of this year.'
According to Reuters from sources close to the negotiating table, the discussions with three banks are very difficult, so that the Deutsche Bahn is contemplating to take the sale of land, valued at EUR 2.7 bln, into its own hands. One of the banks is supposedly Westdeutschen Immobilienbank, a WestLB daughter company and two other banks, yet not identified. Also the US investment banks J.P Morgan and Goldman Sachs are rumoured to be involved.
Early this year the Deutsche Bahn AG incorporated Immobiliengesellschaft Aurelis. This company manages the BahnÂ's land which is not directly necessary for the BahnÂ's operations. Mostly it concerns land in the middle of well sought-after large inner city centers. Aurel;ius objective is to sxell these pieces of land to financial institutions, for instance banks.
(source: Yahoo Finanzen)
