VIVACON AG sells 1,029 residential units under ground lease terms
Köln (euro adhoc) -
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real estate
Cologne, 25th October 2007. VIVACON AG (ISIN DE0006048911) sold 1,029 residential units with a total living space of 62,000 sqm under ground lease terms. No details of the economic terms of the transaction were disclosed.
As the transaction will be reflected in the figures of the expired third quarter, the Company expects a net income in the first nine months which is significant above the same period of last year. The final nine months figures will be published as planned on 12th November 2007.
The management of VIVACON AG is very satisfied with the current business development as well as the expired third quarter. Due to the currently ongoing negotiations about various portfolio transactions, of which disposals are expected in the fourth quarter, the management confirms its previously communicated full-year forecast of a net income of EUR 54-58m and an earnings per share of EUR 2.80 - 3.00. Furthermore, VIVACON AG sees several attractive business opportunities in the current market environment and is in several negotiations regarding additional residential portfolio acquisitions.
end of announcement euro adhoc 25.10.2007 08:51:23
Further inquiry note:
Sven Annutsch
Head Investor Relations & Corporate Finance
Tel: + 49 221 130 5621 630
Sven.Annutsch@vivacon.de
Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 130 5621 950
www.vivacon.de
Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: CDAX, SDAX, Prime All Share, Classic All Share
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / official dealing