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conwert Immobilien Invest SE conwert applies for squeeze-out of ECO Business-Immobilien AG

Nachrichtenquelle: Pressetext (Adhoc)
17.02.2016, 18:25  |  543   |   |   

Business news for the stock market

Vienna (pta026/17.02.2016/18:25) - - + Request complies with the provisions of the Austrian Minority Shareholder Squeeze Out Act (GesAusG) + Delisting of ECO Business-Immobilien AG leads to a further optimisation of the group structure and a reduction in costs and administrative burden within the group

conwert Immobilien Invest SE ("conwert") filed a request today through its subsidiary ECO Anteilsverwaltungs GmbH that the Annual General Meeting of ECO Business-Immobilien AG ("ECO") transfer the shares of ECO's other shareholders to the subsidiary (squeeze-out). conwert had already acquired another approx. 2.5% of ECO's shares in December 2015. conwert and ECO Anteilsverwaltungs GmbH together hold approximately 98.2% of the shares of ECO. The aim of the squeeze-out is to transfer the remaining free float shares in ECO to ECO Anteilsverwaltungs GmbH.

The transfer of the shares of minority shareholders in ECO is to take place against cash compensation in accordance with the legal requirements of the GesAusG. An Extraordinary General Meeting that has yet to be convened will decide on the squeeze-out.

It is expected that the Vienna Stock Exchange will revoke ECO's registration for trading after registration of the shareholder committee. The delisting of ECO will lead to further optimisation of the group's structure and reduce costs and the administrative burden within the group.


This release contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. We would like to point out that the actual circumstances and, consequently, the actual results realised at a later date may differ from the forecasts presented here for a variety of reasons.


emitter: conwert Immobilien Invest SE address: Alserbachstraße 32, 1090 Vienna country: Austria contact person: Clemens Billek phone: +43 1 52145-700 e-mail: cwi@conwert.at website: www.conwert.at

ISIN(s): AT0000697750 (share) stock exchanges: official trade in Vienna

[ source: http://www.pressetext.com/news/20160217026 ]
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