Blackstone (BX.N) is to buy OfficeFirst Immobilien from IVG Immobilien AG, ending months of talks over a potential sale or stock market listing of the German property company.

Both sides did not comment on the price, but three people familiar with the process said Blackstone was paying around 22 euros per share, which, including debt, gives the deal an enterprise value of 3.3 billion euros ($3.65 billion).

In September, Reuters reported that talks between buyout group Blackstone and IVG over a potential 3.3 billion euro deal for OfficeFirst had broken down and that IVG was looking at a stock market flotation.

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