ThyssenKrupp AG earned close to 1 bln eur through the sale of its residential real estate operations, Handelsblatt reported, citing industry sources.
A company spokesman declined to state any specific figures, telling the newspaper it will record 'a large book gain' from the 2.1 bln eur sale to Morgan Stanley and Corpus-Immobiliengruppe.
Indudstry sources also told the newspaper the sale price was greater than ThyssenKrupp originally expected since the 48,000 properties were valued at 1.5 bln eur in the steel conglomerate´s books.
Gains from the sale will be recorded in ThyssenKrupp´s current fiscal year through end-September.
www.efreeman.co.uk
Source: Freeman
