Swiss retailer Jelmoli said on Thursday that it may float its real estate portfolio following the collapse of a EUR 2 bn sale of the properties to an Israeli consortium. An IPO will be one of the options the Jelmoli board will put to an extraordinary shareholders' meeting at the end of November. The shareholders will also be asked to elect a new board and a successor to Walter Fust. He resigned as the chairman of the retail group due to the failure of the proposed sale of 88 properties to a consortium made up of Delek Global Real Estate (DGRE), Delek Belron International (DGRE's parent company) and the Igal Ahouvi Group.
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