Vivacon AG
VIVACON AG sells 2,366 residential units
Ad hoc announcement transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
Cologne, 2nd June 2006. VIVACON AG (ISIN 000604 8911) has today sold a
substantial residential property portfolio to an international
Institutional Investor. The properties were mostly sold under leasehold
terms. The total portfolio consists of 2,366 residential units with a total
area of approximately 153,000 sqm. The sale price amounts to approximately
EUR 91m plus income from ground rents. Initial annual ground rents from
this transaction amount to some EUR 500,000. The ground lease contracts
have a lifetime of 198 years. The portfolio consists of multi-family homes,
mainly in the western Ruhr valley, as well as in Northern Germany. The
disposal is still subject to antitrust approval.
VIVACON AG has furthermore acquired approximately 5,000 units in the recent
months and has further properties identified. These properties are intended
to be preferentially offered to Vivacon German Properties PLC according to
its specific acquisition criteria following the proposed IPO.
For further Information:
Lars Schriewer
Director Communication
Tel: + 49 221 / 1305621 631
Lars.Schriewer@vivacon.de
Sven Annutsch
Head of Corporate Finance
Tel: + 49 221 / 1305621 630
Sven.Annutsch@vivacon.de
Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 1305621 950
http://www.vivacon.de
(c)DGAP 02.06.2006
—————————————————————————
Language: English
Issuer: Vivacon AG
Bayenthalgürtel 4
50968 Köln Deutschland
Phone: +49 (0)221 937 61 – 0
Fax: +49 (0)221 937 61 – 13
email: ir@vivacon.de
WWW: www.vivacon.de
ISIN: DE0006048911
WKN: 604891
indices: MDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Hamburg, München, Stuttgart
End of News DGAP News-Service
—————————————————————————
Latest News
Latest Reports
Upcoming Events
No Events found
Webcasts
No Webcasts found