Sponsored Content
Conwert
Euro 23.0 conwert in squeeze out process
Petrus Advisers represent 2.3% of the shares in conwert Immobilien Invest SE ('conwert'), or 33% of the free float. After scrutinising the Ebner Stolz approach and valuation opinion, Petrus deem Vonovia's squeezeout offer of €17.08 per share (6.2% below current market price) unrealistic. Petrus have refinanced their shareholding while keeping the full improvement rights. Petrus will release the findings of their valuation analysis based on eight years of understanding conwert in detail following the EGM.
August 28, 2017
Petrus Advisers recommend that all existing shareholders not tender their shares into the offer by Vonovia SE
Petrus Advisers maintain a substantial position in conwert Immobilien Invest SE (conwert) and recommend that all existing shareholders not tender their shares into the offer by Vonovia SE for up to 100% in conwert against cash or Vonovia shares. The recent and continued progress of conwert combined with the expected synergies from becoming part of the Vonovia group will substantially increase the cash flow generation of conwert.
March 20, 2017
Petrus Advisers declines conwert offer to minority shareholders of KWG and offers representations to other shareholders
Petrus Advisers, as the second largest investor in KWG Kommunale Wohnen AG, rejects the offer by conwert Immobilien SE for up to 13.47% in KWG at Euro 10.80 per share. Both the price offered as well as the intentional disregard of shareholder rights by forcing small shareholders to remain invested in the company are not acceptable to Petrus Advisers.
April 15, 2016
Conwert in Talks to Purchase BGP Investment's German Properties
Conwert Immobilien Invest SE currently is in exclusive discussions with BGP Holdings Europe S.à.r.l. with respect to the potential acquisition of the German residential property assets of BGP Investment S.à.r.l., an subsidiary of BGP Holdings Europe S.à.r.l.
July 22, 2015
Shareholders request Extraordinary General Meeting of conwert
A group of investors, in total owning more than 5% of conwert Immobilien SE (conwert), lead by Petrus Advisers has requested an Extraordinary General Meeting (EGM). The agenda contains the increase of the number of Administrative Board seats from four to five and the election of Erich Kandler to become a member of the Administrative Board.
June 15, 2015
Petrus Advisers proposes important agenda items for Annual General Meeting of convert Immobilien Invest SE
As one of the largest shareholders in conwert Immobilien Invest SE ("conwert") Petrus Advisers has requested a set of agenda items for the company´s upcoming Annual General Meeting on 5 June 2015 promoting the independence, transparency and corporate governance of the company. The aim is to reestablish the Administrative Board as a professional governing body committed to all shareholders’ interests.
May 20, 2015
Conwert Slips into the Reds
Austrian residential real estate enterprise is facing a hard time in Germany.
May 14, 2014
Austria: Calls for More Competence in Real Estate Management Become Louder
Stock Exchange Guru Alexander Proschofsky and real estate expert Peter Hohlbein are fighting for a seat at Conwert’s administrative board. Proschofsky has been criticizing the strategy of the listed Austrian real estate company.
May 5, 2014
Discrepancies on Austrian Real Estate Market
Because of the high rents the city of Vienna intends to do away with location premiums. Listed real estate company Conwert announced raising its rents by May 1.
April 18, 2014
Conwert to Leave Germany?
A consortium of investors is highly interested in the German subsidiary of the Austrian real estate group. The consortium is led by conwert´s former board director Johannes Meran.
April 16, 2014
Massive Dispute at Conwert
The Austrian real estate group faces troubles: representatives of small shareholders want to join the administrative council. Major shareholder Hans Peter Haselsteiner wants to dispatch his own representatives.
April 15, 2014
Conwert to Withdraw from CESEE
The Vienna-listed real estate group wants to sell its assets in Central, Eastern and Southeastern Europe. The sales proceeds are expected to reach up to € 200m.
March 29, 2014
Conwert Achieves Turnaround
The Austrian real estate group returns to the profit zone. Last year, net income totaled € 49m.
March 19, 2014
Controversials at conwert
Clemens Schneider was appointed as new CEO of the Vienna-listed real estate group. Not everybody is happy with the decision.
November 30, 2013
New CEO at conwert
Today, the Austrian real estate group has presented its new chief executive officer to the public. As of February 1, Clemens Schneider will manage conwert.
November 27, 2013
Conwert Doubles Profits in First Nine Months
conwert on course for year of record operational results following strong nine months in 2013
November 27, 2013
Germany: Austrian Real Estate Enterprises under Pressure
Austrian real estate companies have invested hundreds of millions Euros in apartments in Germany since yields are around 30 percent higher; however the German government plans on putting a hold to the upward trend.
November 25, 2013
Conwert Changes Strategy
The Vienna-listed real estate group will strengthen its portfolio in Germany. Moreover, conwert faces a change in leadership.
October 20, 2013
Austria: Conwert Shows Best Half-Year Results in History
conwert with best operational half-year results in the company's history.
August 22, 2013
conwert strengthens its presence in Germany
The Austrian property investor concludes the acquisition of a large residential property portfolio. Portfolio of 4,016 rental units and a floor space of 265,815 sqm
August 6, 2013
Conwert: Profits in 2012 Negatively Effected
Target EBT of € 50m was met. Revenues dropped by 26.7 % y/y from € 852.9m to 625.1m. Earnings before tax amounted to € 154.6m. Outlook: conwert plans to gradually expand core business in Germany and Austria.
March 21, 2013
Stavros Efremidis New Executive Director of conwert
Stavros Efremidis is responsible for conwert’s operating business in Germany as Executive. Thomas Doll, Executive Director and CFO of conwert, is responsible for the operating business in Austria and CEE.
February 20, 2013
Conwert Finishes Major Investment
The Austrian real estate company closes the acquisition of majority interest in KWG Kommunale Wohnen AG.
January 21, 2013
Conwert Announces Strategic Asset Refocusing
According to preliminary figures, the EBT guidance of € 50 million has been achieved in 2012 before one-off effects. Strategic refocusing leads to negative one-off adjustments
January 18, 2013
conwert acquires majority stake in German KWG
Acquisition of approx. 60% stake in German residential property company with 9,700 units. Purchase price of approx. 620 € / sqm.
December 21, 2012
Conwert Notes Falling Revenue and Net Income
The Austrian real estate company publishes results for the first nine months of 2012. Earnings before tax (EBT) at 22.5m increased more than sixfold.
November 22, 2012
Conwert Buys Back Convertible Bonds
Result of tender offer for convertible bonds due2014.
September 6, 2012
conwert Issues New Convertible Bonds
conwert Immobilien Invest SE , a company listed on the Vienna Stock Exchange, has initiated a two-step transaction with the aim of reducing its leverage and extending the maturity profile of its debt.
August 30, 2012
conwert significantly increases earnings
In the first half of 2012, earnings before tax (EBT) increased by 45.2% to € 18.0m. Net income was up by 17.1% to € 9.6m.
August 23, 2012
conwert takes over residential portfolio in Berlin
Residential property portfolio acquired at high two-digit million amount . Economies of scale possible through significant expansion of conwert’s portfolio in Berlin
August 9, 2012
Conwert ´s Corporate Bonds Generate Strong Demand
Subscription period closed early – first retail bond from the Austrian real estate company in the amount of € 65m enjoys strong demand.
June 16, 2012
Conwert: Corporate Bond Successfully Placed
The Austrian real estate company issues a retail bond with a term of five years until 2017. The total volume oft he bond issue is € 65m.
June 13, 2012
Vienna Stock Exchange: Winners and Losers (2012-06-05)
Daily News-Flash from the Vienna Stock Exchange: Upgrades and Downgrades, Analyzes and Comments.
June 5, 2012 · Updated: June 5, 2012; 19:27
Conwert to sell € 50m of Bonds
The Austrian real estate company conwert Immobilien plans to sell € 50m of 5.75 percent bonds due in 2017.
June 1, 2012
Vienna Stock Exchange: Winners and Losers (2012-05-31)
Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Analyses and Comments.
May 31, 2012 · Updated: May 31, 2012; 18:02
Vienna Stock Exchange: Winners and Losers (2012-05-30)
Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Comments and Analyses.
May 30, 2012 · Updated: May 30, 2012; 18:01
Conwert Records Declining Earnings
The Austrian real estate company presented its first quarter results today. Net rental income was down by 13.3%
May 29, 2012
Conwert: Decline in Earnings Expected
Analysts of Erste Group and RCB (Raiffeisen Centrobank) predice a decrease in net income and rental income at the Austrian real estate company.
May 26, 2012
Haselsteiner to Leave Strabag Earlier
Hans-Peter Haselsteiner is mandated as CEO of Austria´s largest construction company until 2015. Nevertheless, he will leave the management board earlier.
May 4, 2012
Conwert: Haselsteiner Holds 24%
The Austrian industrialist intends to raise his stake in the real estate company further.
April 27, 2012
Conwert Establishes Joint Venture in Germany
The Austrian real estate company expands in Germany. Sales volume of the construction project in Bamberg is estimated to reach € 100m.
April 27, 2012
Vienna Stock Exchange: Winners and Losers (2012-04-20)
Daily News-Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
April 20, 2012
Vienna Stock Exchange: Winners and Losers (2012-04-18)
Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
April 18, 2012
Vienna Stock Exchange: Winners and Losers (2012-04-16)
Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
April 16, 2012 · Updated: April 16, 2012; 18:05
Vienna Stock Exchange: Winners and Losers (2012-04-05)
Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
April 5, 2012
Massive Increase in Revenues at Conwert
Revenues at the Austrian real estate company increase by 55.9 % to € 852.9m. Net income almost doubled.
March 28, 2012
Vienna Stock Exchange: Winners and Losers (2012-02-27)
Daily News Flash from Vienna Stock Exchange. Upgrades and Downgrades, Winners and Losers.
March 27, 2012 · Updated: March 27, 2012; 18:27
Conwert: Haselsteiner Wants Blocking Minority
The Austrian industrialist, who is CEO of Strabag Group, wants to reach at least a 25% stake at the real estate company. Petrus Advisers is said to exit.
March 23, 2012
Vienna Stock Exchange: Winners and Losers (2012-02-23)
Daily News Flash from Vienna Stock Exchange: Upgrades and Downgrades, Winners and Losers.
March 23, 2012 · Updated: March 23, 2012; 10:51
Fast News Search
