Immofinanz to Enlarge Buwog’s Portfolio

People ♦ Published: November 26, 2013; 14:18 ♦ (Vindobona)

Austrian real estate company Immofinanz plans on acquiring a large portfolio in Germany. The purchase price of around € 900m is supposed to be raised by the company itself.

Immofinanz to Enlarge Buwog’s Portfolio / Picture: © Immofinanz

On the sidelines of an event Monday evening, CEO Eduard Zehetner told Reuters that a capital increase is not intended for the transaction which in all likelihood will be closed by the end of the year. Instead, the additional purchase will be compensated by existing cash reserves and external financial sources. At the end of July Immofinanz had liquid asses of…