BUWOG AG (FRA:AT00BUWO) BUWOG AG: Cash compensation for BUWOG's minority shareholders set at EUR 29.05 per share

Transparency directive : regulatory news

12/08/2018 12:39




DGAP-Ad-hoc: BUWOG AG / Key word(s): Squeeze Out


BUWOG AG: Cash compensation for BUWOG's minority shareholders set at EUR 29.05 per share


12-Aug-2018 / 12:39 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Vienna, 12 August 2018

Ad hoc-Announcement




Cash compensation for BUWOG's minority shareholders set at EUR 29.05 per share




Vienna, 12 August 2018. BUWOG AG ("BUWOG") announces that, today, the board of directors of BUWOG and Vonovia SE ("Vonovia") as main shareholder of BUWOG, have jointly set the adequate cash compensation to be paid to BUWOG's minority shareholders in the course of the initiated squeeze-out proceedings to EUR 29.05 per share.


Furthermore, Vonovia's and BUWOG's boards of directors have resolved on the joint report pursuant to sec 3 para 1 of the Austrian Squeeze-Out Act ("GesAusG").


The accuracy of the joint report as well as the adequacy of the cash compensation are subject to an examination and confirmation by Grant Thornton Unitreu GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft as court-appointed expert.


The ordinary shareholders' meeting of BUWOG, which will, among others, resolve on the transfer of shares of the minority shareholders to the main shareholder against payment of an adequate cash compensation, is expected to be held on 2 October 2018.

 



About the BUWOG Group

BUWOG AG, Hietzinger Kai 131, 1130 Vienna, Austria, is the leading German-Austrian full-service provider in the residential property business and now looks back on 67 years of expertise. Its property portfolio encompasses more than 48,800 units and is located in Germany and Austria. In addition to Asset Management, the entire value chain of the residential sector is covered by Property Sales and Property Development. The shares of BUWOG AG (ISIN AT00BUWOG001) have been listed on the stock exchanges in Frankfurt am Main, Vienna and Warsaw since the end of April 2014. The primary shareholder of BUWOG AG is the DAX 30-listed Vonovia SE, Germany's leading residential company nationwide.




For additional information please contact:

INVESTOR RELATIONS



Patrick Kramreither

BUWOG AG

Email: investor@buwog.com

T +431878281780




MEDIA INQUIRIES


Michael Lippitsch

BUWOG AG

Email: communications@buwog.com

T: +43-664 60928 1710img







Contact:

Patrick Kramreither

Capital Market Financing Specialist

Corporate Finance & Investor Relations

Patrick.Kramreither@buwog.com

T +43 (0) 1 87828 1780img








12-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: BUWOG AG

Hietzinger Kai 131

1130 Wien

Austria
Phone: +43 1 87 8281130
Fax: +43 1 87 8285299
E-mail: investor@buwog.com
Internet: www.buwog.com
ISIN: AT00BUWOG001
WKN: A1XDYU
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market)





 
End of Announcement DGAP News Service




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