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ECO Business-Immobilien AG

euro adhoc: ECO Business-Immobilien AG
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Signa Holding and ECO Business-Immobilien AG enter into a partnership with BAWAG property portfolio

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
27.12.2007
Signa Holding and ECO Business-Immobilien AG enter into a partnership
with BAWAG property portfolio
Vienna, 27 December 2007. Signa Holding GmbH, a specialist in 
professional property development, and ECO Business-Immobilien AG, 
listed in the Prime Market segment of the Vienna Stock Exchange, have
entered into a strategic partnership to develop the BAWAG property 
portfolio. As part of this cooperation, ECO will take a stake in a 
hold portfolio with properties worth about EUR 200-250 million in the
form of a 50:50 joint venture. With regard to properties that are 
intended to be sold on again within the scope of medium-term trading 
activities, ECO's share in this trading portfolio will be 60 % and 
Signa Holding will have a 40 % stake.
Together, ECO and Signa will develop the 16 high-quality, former 
BAWAG properties worth around EUR 450 million and representing a 
total floor space of about 130,000 m² to increase their yield. The 
partnership with René Benkos Signa Holding means that know-how can be
pooled and potential synergies exploited when the properties are 
upgraded. Thanks to this transaction, ECO will expand its property 
portfolio to roughly EUR 1.2 bn.
ECO will assume its stake on acquisition costs. ECO will finance one 
third of the transaction by equity capital; the other two thirds will
be covered by borrowed capital.
end of announcement                               euro adhoc

Further inquiry note:

ECO Business-Immobilien AG,
Friedrich Scheck, CEO,
Tel: +43 1 535 21 99,
E-mail: scheck@eco-immo.at

Hochegger|Financials,
Roland Mayrl,
Tel: +43 1 504 69 87- 31,
E-mail: r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000617907
WKN: A0D8RY
Index: Prime.market
Börsen: Wiener Börse AG / Regulated free trade

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