DeAM bags RREEF for US$490m

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US/EUROPE - Deutsche Asset Management (DeAM) has agreed to buy the US-based real estate investment manager RREEF, from its European owners for a total of $490m.

Under the terms of the acquisition, DeAM will pay RREEF's four owners a total of $440m for the property manager's operating business, in addition to an incremental $50m for co-investment assets rel...

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