DGAP-News: InCity Immobilien AG: Sale of share in informica real invest AG
(firmenpresse) - InCity Immobilien AG / Key word(s): Miscellaneous
20.10.2010 15:12
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InCity Immobilien AG: Sale of share in informica real invest AG
- Sale of 82.21% majority share
- Significant reduction of property portfolio and focus on investments in
project development companies
- Frankfurt office has been established
Cologne, 20 October 2010 - Today, InCity Immobilien AG (symbol: IC8) is
announcing the sale of its majority share in informica real invest AG. The
82.21% direct and indirect investment in informica real invest AG was sold
to Q Realstate GmbH, an international investor group. Both parties agreed
not to disclose the sales price and other details.
'As we had previously announced, InCity Immobilien AG has quickly advanced
in its efforts to simplify the operating business and sold most of its
property portfolio as part of the company's strategic positioning. Our new
focus is on property project controlling and innovative property financing
within the scope of attractive development projects with selected InCity
partners,' said Heiko C. Frantzen, CFO of InCity Immobilien AG.
As well as clearly defining and implementing the new strategy, the fact
that the company is opening up to the capital market in the long term is a
crucial success factor. For this reason, InCity Immobilien AG has
established a presence in Germany's most important financial centre by
moving into its new Frankfurt office at the beginning of October. It plans
to engage in a continuous and direct dialogue with the capital market. At
the same time, the company's Frankfurt office is located in one of
Germany's most prospering project development markets, the
Rhine/Main/Neckar region.
The sale of the share in informica real invest AG will result in a reversal
of the extraordinary item with no effect on liquidity recognised in
financial year 2009 after the initial consolidation of this company. This
will either entirely and exclusively affect the 2010 annual result or
impact both the 2009 and 2010 annual results if restated in accordance with
IAS 1.
The Executive Board
About InCity Immobilien AG
InCity Immobilien AG specialises in financing, designing and realising
high-quality property in inner cities and adjoining locations The Company
finances, develops and markets residential, commercial and retail
properties with high added value and short lead times. InCity Immobilien AG
benefits from the combined experience of around 250 projects. Regionally,
the Company focuses on exclusive, valuable top locations in large German
cities. InCity Immobilien AG is committed to taking a responsible approach
with regard to society and environment. The Company expresses this belief
by participating in UN Global Compact, the international initiative of the
United Nations for supporting social and environmental principles. For
further information, please go to www.incity.ag.
Company and IR contact
InCity Immobilien AG
Head of Investor Relations
Lars Kuhnke
Phone: +49 (0) 221 95 27 57 55
l.kuhnke(at)incity.ag
20.10.2010 15:12 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: InCity Immobilien AG
Mozartstr. 1
50674 Köln
Deutschland
Phone: +49 (0)221 952757-55
Fax: +49 (0) 221 95 27 57 57
E-mail: info(at)incity.ag
Internet: www.incity.ag
ISIN: DE000A0HNF96
WKN: A0HNF9
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard
in Frankfurt
End of Announcement DGAP News-Service
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Datum: 20.10.2010 - 15:12 Uhr
Sprache: Deutsch
News-ID 32375
Anzahl Zeichen: 0
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Kategorie:
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