Bank Austria takes over Immobilien Holding from Immobilien Privatstiftung
UniCredit Bank Austria AG intends to buy Immobilien Holding GmbH/Group, which has so far been wholly owned by Immobilien Privatstiftung. The purchase agreement has been signed today, subject to consent by the Bank Austria supervisory board and subject to approval by the Austrian competition authorities. The profit- and liquidation-sharing rights in Immobilien Holding GmbH which Bank Austria has held so far will be extinguished as part of the transaction. The parties to the agreement have agreed not to disclose further details or the purchase price.
In 1999, Bank Austria transferred a substantial portion of its holdings in real estate to Immobilien Holding GmbH (a wholly-owned subsidiary of Immobilien Privatstiftung). In return, Bank Austria received profit- and liquidation-sharing rights which give the holders a share in profit, in the company’s value and in the liquidation surplus. Immobilien Holding GmbH holds interests in about 80 real estate companies throughout Austria, including Donauturm Aussichts- und Restaurantbetriebs GmbH, Garage am Hof GmbH and Wien Mitte Immobilien GmbH. Moreover, it holds equity interests in various project management and shopping centre management companies such as BAI Bauträger Austria Immobilien GmbH and Ekazent Immobilienmanagement GmbH.
UniCredit Bank Austria AG is represented in this transaction by Fellner Wratzfeld & Partner Rechtsanwälte GmbH.
Enquiries: Bank Austria Media Relations Austria
Martin Halama, tel. +43 (0) 50505 52371