Vivacon AG

EANS-Adhoc: Four subsidiaries of Vivacon AG filed for insolvency

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18.06.2009

Four subsidiaries of the group of Vivacon AG (ISIN 000604 8911) filed for insolvency at the local court in Cologne. The subsidiaries are Vivacon Immobilienportfolio XVI./2006 GmbH & Co. KG, Vivacon Immobilienportfolio III./2007 GmbH & Co. KG, Vivacon Immobilienportfolio V./2007 GmbH & Co. KG and Vivacon Immobilienportfolio VII./2007 GmbH & Co. KG. The reason is the illiquidity of the subsidiaries. There is liquidity gap, which cannot be bridged in the short time according to current forecast of the management. The liquidity gap resulted from high vacancy rates of the real estate assets due to the location.

The four subsidiaries are only focused on residential properties in Salzgitter and Kassel. Affected are almost 4,000 residential units of approximately 10,000 residential units of the Vivacon group.

The insolvency was filed in the context of the current restructuring efforts and serve to safeguard liquidity of the Vivacon group. A well-known auditing company was mandated to prepare a restructuring opinion.

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ots Originaltext: Vivacon AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Sven Annutsch

Tel. ++49(0)221 130 5621-630

Email: sven.annutsch@vivacon.de

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    SDAX, CDAX, Classic All Share, Prime All Share, DAX
              International 100
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / regulated dealing



Weitere Meldungen: Vivacon AG

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