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Haselsteiner Buys 15% Stake in Conwert

Published: March 14, 2012; 14:59 · (Vindobona)

Hans-Peter Haselsteiner, CEO of the Austrian construction company Strabag, buys a 15% stake in the Austrian real estate supplier Conwert. The seller is the London-based Petrus Advisers LLP.

Haselsteiner Buys 15% Stake in Conwert / Picture: © Wikipedia / Tsui

The Haselsteiner Family Trust has acquired control of a 15 percent stake in Conwert Immobilien Invest SE, Austria’s third-biggest listed real estate company, from Petrus Advisers LLP. The trust plans to increase its stake and hold it as a longterm investment, according to an e-mailed statement today.

Petrus Advisers has held the Conwert stake via a holding since 2010, it said in the statement. The trust of Haselsteiner has acquired a 76 percent of those voting rights, it said. Initially, Petrus Advisers held 19.8% in Conwert. In 2010, Conwert´s share price stood at € 10.00, the current share price is € 8.46. Petrus Advisers said to want to bring the share price as close as possible to the NAV, which currently amounts to € 15.00.

Haselsteiner´s trust will keep the shareholding in Conwert as a “long term family investment”. In November 2010, the trust acquired 6.01% in Conwert. A few weeks later, Strabag sold a 2.0% stake to Petrus Advisers.