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Vivacon AG

EANS-Adhoc: Vivacon AG sells five development projects

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
04.06.2009
Vivacon AG (ISIN 000604 8911) has signed a purchase contract with an 
international investor about a part of its development business. The 
transaction should be implemented as of 30th June 2009. Condition for
the closing is among others the banks approval to change of control. 
Details of the purchase price were not disclosed.
The sold assets are in total five development projects in Berlin, 
Hamburg and Düsseldorf with a total project volume of approximately 
EUR 345m and c. 610 units. A part of the employees in the development
segment will change to the purchaser in the course of the 
transaction. The buyer - an experienced project developer for 
residential properties - intends to finalize the projects as planned.
The development projects, which remain at Vivacon AG, will be 
finalized by the company as planned.
The disposal of part of the development business is an important part
in the context of the ongoing restructuring of the Vivacon AG group. 
Vivacon AG will not only receive the purchase price but the common 
drain on liquidity during the construction phase for the five 
development projects will be omitted because of the disposal. In 
addition, overhead costs will be reduced.
end of announcement                               euro adhoc

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

Plus de actualités: Vivacon AG
Plus de actualités: Vivacon AG