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Immofinanz Withdraws from the Tender for GBW AG

Published: February 13, 2013; 19:45 · (Vindobona)

The Austrian real estate group has withdrawn its non-binding offer for the purchase of the tendered shares in GBW AG, Munich, and informed the seller, Bayerische Landesbank, of this decision on 13 February 2013.

Immofinanz Withdraws from the Tender for GBW AG / Picture: © Flickr

“Under the given constellation it is not possible for us to form a listed German-Austrian residential real estate corporation within an acceptable timeframe“, explains Eduard Zehetner, CEO of Immofinanz Group. “However, we are convinced that GBW AG is a successfully managed residential property company with an excellent portfolio in Bavaria.“

Immofinanz Group will…

This article includes a total of 99 words.

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