DGAP-Adhoc: IMMOFINANZ subsidiary BUWOG in discussions over the acquisition of a large residential property portfolio in

DGAP-Adhoc: IMMOFINANZ subsidiary BUWOG in discussions over the acquisition of 
a large residential property portfolio in Germany

IMMOFINANZ AG  / Key word(s): Real Estate

07.11.2013 14:46

Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.


BUWOG, a wholly owned subsidiary of IMMOFINANZ Group, is currently involved
in a number of negotiations to expand its residential property portfolio in
Germany. In this connection, discussions are also in progress with Solaia
RE S.à.r.l Group, a joint venture of Prelios and an investment fund managed
by Deutsche Asset & Wealth Management - Real Estate, concerning the
possible acquisition of a portfolio that covers nearly 18,000 housing units
in the north of Germany.

The outcome of these discussions is expected around the year end 2013.

On BUWOG Group 
After recent acquisitions BUWOG owns about 7,200 apartments in Germany (and
approx. 27,200 in Austria). In preparation for the planned listing of BUWOG
shares in 2014 the German portfolio should be increased to 15,000 to 20,000
units. In 2013, BUWOG has already announced five acquisitions, including
Kiel, Kassel and Berlin.
IMMOFINANZ Group plans to reduce its stake in BUWOG to less than 50%. This
will take place through a spin-off or an initial public offering (IPO). The
transaction is scheduled for 2014, the main listing of the BUWOG share will
take place in Frankfurt.

IMMOFINANZ Group is one of the leading listed property investors and
developers in Europe. The company is included in the leading ATX index of
the Vienna Stock Exchange and also trades on the Warsaw Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,700 investment properties
with a carrying amount of approx. EUR 10.4 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. IMMOFINANZ Group concentrates its activities in the
retail, office, logistics and residential segments of eight regional core
markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania,
Poland and Russia.
Further information under http://www.immofinanz.com /
http://blog.immofinanz.com / http://properties.immofinanz.com

For additional information please contact: 

Bettina Schragl 
Head of Corporate Communications | Press Spokesperson 
T +43 (0)1 88 090 2290 
M +43 (0)699 1685 7290 

Stefan Schönauer 
Head of Corporate Finance & Investor Relations 
T +43 (0)1 88 090 2312 
M +43 (0)699 1685 7312 

07.11.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

Language:     English
Company:      IMMOFINANZ AG
              Wienerbergstraße 11
              1100 Wien
Phone:        +43 (0) 1 88090 - 2291
Fax:          +43 (0) 1 88090 - 8291
E-mail:       investor@immofinanz.com
Internet:     http://www.immofinanz.com
ISIN:         AT0000809058
WKN:          911064
Listed:       Freiverkehr in Berlin, München, Stuttgart; Frankfurt in Open
              Market ; Wien (Amtlicher Handel / Official Market)
End of Announcement                             DGAP News-Service
Press spacebar to pause and continue. Press esc to stop.