Leonhard Tietz Aktiengesellschaft
List of Deals
- 1926 Leonhard Tietz Aktiengesellschaft (Leonard Tietz Incorporated): $3,000,000 20-year 7 1/2% mortgage gold bonds (with stock purchase warrants)
Leonhard Tietz Aktien-Gesellschaft (Leonhard Tietz) was founded in Germany in 1879. It was a pioneer in the department store business in Germany and by the mid-1920s it was one of the largest retail organizations in Europe. In 1926 it had a chain of nineteen modern department stores that were the largest in their respective cities throughout Germany. The most important store was located in Cologne, where the company headquarters were located. The company occupied a prominent position in the retail field in Germany, not only due to its size and sales volume but also due to its unique organization and merchandizing methods.
In 1924 Leonhard Tietz earned $1.52 million and held assets valued at over $16 million.
In January 1926 Leonhard Tietz sold $3 million worth of twenty-year, 7½ percent mortgage gold bonds in a deal managed by Lehman Brothers.