EANS-Adhoc: Vivacon AG sells residential real estate portfolio and ground lease properties
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
07.08.2009
Vivacon AG (ISIN 000604 8911) sold a residential real estate portfolio in the context of the current restructuring process. The portfolio, which is mainly located in Western Germany, consists of more than 2,400 residential and commercial units with a total area of more than 146,000 sqm. Beside the cash inflow from the disposal price, the disposal leads to a reduction of bank liabilities in the amount of approximately EUR 83m. Moreover, Vivacon AG sold a portfolio of ground lease properties.
It was agreed not to disclose the disposal price and further details of both transactions.
A further component of the ongoing restructuring efforts is the filing of insolvency for a further subsidiary. The subsidiary solely owns 38 residential units in Hameln.
end of announcement euro adhoc
Further inquiry note:
Sven Annutsch
Tel.: +49(0)221/1305621-630
E-mail: sven.annutsch@vivacon.de
Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: SDAX, CDAX, Classic All Share, Prime All Share, DAX
International 100
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / regulated dealing