Arcandor, the largest department store owner in Germany, has expressed confidence it will be able to put a signed contract for the sale of EUR 4.5 bn worth of property holdings to Pirelli Real Estate and Deutsche bank's RREEF unit 'under the Christmas tree'. This is the third time that Arcandor has suggested that negotiations for one of the largest European deals of the year are on the verge of completion. Previous targets of end-September and end-November have passed without result.
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