Immofinanz Sells Funds for € 137m

Published: June 8, 2011; 20:44 · (Vindobona)

The Austrian real estate group decided to sell its financial investments as it is focusing on its core business. 18 funds worth € 160m are still held by the company.

Immofinanz Sells Funds for € 137m / Picture: © Immofinanz

The Immofinanz Group has signed agreements for the sale of nine fund investments to European investors. The purchase price will amount to € 137m to 140m, depending on the development of foreign exchange rates over the next 12 months. These investments were financed with 100% equity by subsidiaries of the Immofinanz Group, and the company will therefore record an increase in cash equal…

This article includes a total of 279 words.

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