ALL THAT GLITTERS...

In Germany, American investors have lately been snapping up just about everything. Last week New York-based Blackstone Group, one of the biggest buyout funds, paid 1.4 billion euros for 32,000 rented apartments from struggling Hamburg-based WCM Real Estate. In May, Texas Pacific bought Grohe, Europe's largest maker of bathroom faucets, for 1.1 billion euros. Last month Kohlberg Kravis Roberts--the corporate raiders of "Barbarians at the Gate" fame--took over Duales System Deutschland, a money...
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