EANS-Adhoc: conwert Immobilien Invest SE conwert establishes its own sales
team in Austria
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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23.09.2011
Cooperation with RESAG Immobilienmakler GmbH will be reduced
Cost savings potential of between EUR 1.5 - 2.5 million
Service agreements with a value of EUR 700.000 annually with Wiener Privatbank
cancelled
Vienna, 23 September 2011. The Austrian ATX-traded conwert Immobilien Invest SE
will internalise its sales activities, which have so far been managed by RESAG
Immobilienmakler GmbH in Austria, and will establish its own sales team in
Austria. A corresponding decision was adopted by the Executive Board of conwert.
Jürgen Kelber, member of the Executive Board, who also manages the sales
activities in Germany, will continue to hold overall responsibility for the
sales activities of conwert. Andreas Bäcker will manage the sales activities in
Austria on an interim basis.
As a consequence, the cooperation with RESAG Immobilienmakler GmbH will be
consistently reduced in the coming months. To date, conwert has already
withdrawn properties totalling more than EUR 350 million from the sales
portfolio of RESAG.
conwert creates full transparency in its sales activities by this
internalisation, which also enables conwert to realise a savings potential
amounting to between EUR 1.5 and 2.5 million annually.
51% of RESAG Immobilienmakler GmbH are held by Wiener Privatbank SE; the
remaining 49% are owned by conwert Immobilien Invest SE.
Furthermore, in the course of the ongoing review of existing contracts with
third parties conwert has cancelled service contracts with Wiener Privatbank
worth another EUR 700,000 annually.
Further inquiry note:
conwert Immobilien Invest SE,
Clemens Billek,
Investor Relations - Corporate Communications,
T +43 / 1 / 521 45-700,
E cw@conwert.at
end of announcement euro adhoc
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issuer: conwert Immobilien Invest SE
Albertgasse 35
A-1080 Wien
phone: 52145-0
FAX: 52145-111
mail: cw@conwert.at
WWW: http://www.conwert.at
sector: Real Estate
ISIN: AT0000697750
indexes: WBI, ATX
stockmarkets: official market: Wien
language: English