Billionaire Nearing Deal to Sell Paris Apple Store

A company owned by the family of French billionaire Christopher Descours is in talks to sell the building that will house the Apple store on Paris’s Champs-Elysees to Germany’s biggest pension fund, people with knowledge of the deal said.

Bayerische Versorgungskammer, which oversees 12 compulsory retirement funds for doctors, pharmacists and Bavarian lawmakers, is close to agreeing terms to buy the 114 Avenue des Champs-Elysees building, which will host the store when it opens next year, the people said, asking not to be identified because the talks are ongoing.