EANS-Adhoc: conwert Immobilien Invest SE
conwert confirms negotiations with
Wiener Privatbank SE and RESAG Immobilienmakler GmbH
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
08.06.2011
Vienna, 08.06.2011. conwert Immobilien Invest SE, listed on the Vienna Stock Exchange, confirms - due to differing and partially unclear media reports - ongoing negotiations with Wiener Privatbank SE, which holds a 51% stake in RESAG Immobilienmakler GmbH, and the brokerage company itself. The background of the negotiations is an improvement of the conditions of contracts which were concluded with the brokerage company in the year 2007. The possible improvement of the contract conditions involves a significant savings potential for conwert, which amounts to several million euros. Another part of the new strategy, which provides for a more efficient, less costly and simplified management of the residential property portfolio in Austria and Germany, is thus being consistently implemented.
In contrast, the company denies rumours, according to which conwert had cancelled the existing brokerage contracts and is working on the establishment of a new brokerage organisation.
end of announcement euro adhoc --------------------------------------------------------------------------------
issuer: conwert Immobilien Invest SE
Albertgasse 35
A-1080 Wien
phone: 52145-0
FAX: 52145-111
mail: cw@conwert.at
WWW: http://www.conwert.at
sector: Real Estate
ISIN: AT0000697750
indexes: WBI, ATX
stockmarkets: official market: Wien
language: EnglishContact:
conwert Immobilien Invest SE,
Mag. Peter Sidlo, Leiter Konzernkommunikation - Investor Relations,
T +43 / 1 / 521 45-250,
E peter.sidlo@conwert.at
Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI, ATX
Börsen: Wien / official market