German Housing Firm GSW Preps IPO

BERLIN-Locally based housing company GSW, controlled by Goldman Sachs’ Whitehall Funds and private equity group Cerberus, is one of the largest real estate portfolios eyeing a stock exchange listing in the New Year, and preparations for an IPO moved into higher gear in November.

The Financial Times Deutschland newspaper, quoting internal sources, said GSW could have a total market valuation of up to €900 million and would be a candidate for the MDAX medium-company segment of the Frankfurt Stock Exchange. Goldman Sachs and Deutsche Bank have been mandated to lead manage the placement. No further details or confirmation were available.