ThyssenKrupp books close to €1bn from real estate sale (DE)

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.
Source: Freeman

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