Union Investment to buy 16,000 German apartments from Chinese investor - sources

Euronews logo
Text size Aa Aa

By Arno Schuetze

FRANKFURT (Reuters) – German fund manager Union Investment is nearing a deal to buy about 16,000 German flats from BGP, a Chinese investor, in a roughly 2 billion euro (1.75 billion pounds) deal, people close to the matter told Reuters.

Union Investment is planning to merge the targeted real estate firm BGP Group with its own property platform and eventually transfer the properties to its investment funds, the sources added.

“We welcome the exclusive negotiations,” said Worna Zohari, Chief Executive Officer of BGP Group.

(Reporting by Arno Schuetze,; Editing by Tassilo Hummel)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.