Immofinanz Postpones Sale After Deals Faltered, CEO Says
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Immofinanz AG postponed the sale of its residential unit after investor demand for similar deals by competitors failed to meet expectations, the Austrian developer’s chief executive officer said.
Immofinanz won’t proceed with an initial public offering of its Buwog unit this year after share sales by German residential landlords Deutsche Annington Immobilien SE and Gagfah SA faltered, CEO Eduard Zehetner said in an interview today. The Vienna-based company, which is trying to turn into a commercial-property landlord, had been targeting an IPO as early as November in Frankfurt.