UK-listed Aberdeen Asset Management is to buy a German property investment management company from Dresdner Bank as it targets growth in Europe's largest commercial real estate market.

Aberdeen has agreed to pay  Dresdner €110m ($158m) in cash for Deutsche Gesellschaft für Immobilienfonds, which manages approximately €6.4bn in open-ended property funds offering German, European or global commercial property exposure.

Johanna Symmons

Aberdeen Asset Management

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Aberdeen to buy German property manager

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