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Berlin housing firm GSW prepares IPO
Dec 24th
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.
- Image via Wikipedia
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. More >
Berlin city center will be revitalized
Dec 24th
- Image by Getty Images via Daylife
It used to be the center of Berlin. Then it became the center of communist East Berlin. This week, officials in the German capital began a public debate about the future of the Rathaus Forum, the bleak area located in front of city hall. A handful of prominent architects have submitted their own ideas.
With the former communist party headquarters, the Palast der Republik now demolished, and the debate over whether to rebuild the city’s former palace settled (it will be), officials in the German capital are now looking to redevelop neighboring parcels of land that were once the focal point of East Berlin. More >
Nerfertiti bust will stay in Berlin
Dec 24th
German authorities have disallowed the relocation of an ancient Egyptian bust of Queen Nerfertiti over fears it is too fragile to travel .
Image via Wikipedia
The announcement is the latest development in a long-term debate between Egypt and Germany over the rightful home of the 3,500-year-old artefact.
Nefertiti is currently housed in the Neues Museum in Berlin, where it is one of the cultural attraction’s most prominent pieces.
The bust’s state of preservation was tested in 2007, when it was first ruled unfit for transportation.
The Prussian Heritage Foundation, parent corporation of the museum, said in a statement that new tests indicate that the artefact is still too fragile to fly to Egypt, even for a temporary exhibition.
The legality of the bust’s removal from Egypt has been questioned by its head of antiquities Zahi Hawass, who claims the artefact was smuggled out of the country in 1913 by German archaeologist Ludwig Borchardt.
German officials, meanwhile, maintain that Germany’s original acquisition of the piece was lawful.
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