KWG Kommunale Wohnen AG
KWG Kommunale Wohnen AG: conwert takes majority stake in KWG Kommunale Wohnen AG
KWG Kommunale Wohnen AG / Key word(s): Merger/Real Estate 21.12.2012 / 10:30 --------------------------------------------------------------------- - Acquisition of 60%-stake by conwert Immobilien Invest SE - Consequent strengthening of strategic positioning as German-focused residential real estate company - KWG-CEO Stavros Efremidis will become Managing Director of conwert and will be responsible for the German operations Hamburg - 21 December 2012 - KWG Kommunale Wohnen AG, the long-term oriented property holding company of German residential real estate, has been informed that subject to relevant antitrust approval, conwert Immobilien Invest SE, Vienna, will acquire a majority stake and will consequently hold around 60% of KWG's share capital. KWG's Management Board acknowledges the change in its shareholder structure and welcomes the commitment of its new strong core shareholder as a strategic partner with the target of forming a group of leading real estate property holding companies - with a particular focus on Germany. As a result of becoming a member of the conwert group and in the interest of KWG and its shareholders KWG's Managing Board expects the company's financing and acquisition capabilities to be strengthened, while it also expects to reap operational synergies. At the same time KWG Kommunale Wohnen AG announces that its CEO, Mr. Stavros Efremidis, will become a member of conwert's Executive Board from February 2013. Contact: KWG Kommunale Wohnen AG Jan Hutterer Alstertor 9 20095 Hamburg Germany F. +49 (0)40 2263088-100 eMail: Hutterer@kwg-ag.de End of Corporate News --------------------------------------------------------------------- 21.12.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: KWG Kommunale Wohnen AG Alstertor 9 20095 Hamburg Germany Phone: 040 22 63 088 100 Fax: 040 22 63 088 200 E-mail: ir@kwg-ag.de Internet: www.kwg-ag.de ISIN: DE0005227342 WKN: 522734 Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 197698 21.12.2012
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