|Real-time Estimate - 10/19 11:36:04 am|
EYEMAXX Real Estate : sells stake in ViennaEstate
|10/10/2019 | 07:50am|
DGAP-News: Eyemaxx Real Estate AG
/ Key word(s): Investment/Disposal
Eyemaxx sells stake in ViennaEstate
Aschaffenburg, 10 October 2019 - Eyemaxx Real Estate AG (General Standard; ISIN: DE000A0V9L94; "Eyemaxx") has completely sold its 26% stake in ViennaEstate Immobilien AG ("ViennaEstate"). The buyer is a renowned Austrian real estate investor. As a result of the sale, net earnings in a high single digit million euro range accrue to the company. The purchase price will be paid in two tranches - the first in December 2019, the second at the beginning of 2020.
The strategic partnership between Eyemaxx and ViennaEstate remains unchanged. This means that Eyemaxx continues to be the preferred planning and development service provider of ViennaEstate for B2C developer projects in Austria and Germany. In this region ViennaEstate intends to build up to 1,000 residential units within the framework of developer projects.
Dr. Michael Müller, CEO of Eyemaxx Real Estate AG: "We will use the inflow of funds from the divestiture for the support of our corporate growth and for new projects. I am personally very optimistic as far as the further business development of Eyemaxx is concerned."
About Eyemaxx Real Estate AG
Eyemaxx Real Estate AG is a real estate company with a long-standing successful track record, focussing on residential properties in Germany and Austria. In the company's recent past its corporate strategy has also included hotels and serviced apartments as well as developing urban districts in Germany.
Eyemaxx' business activities take a dual-pronged approach. These include high-margin projects and also the continued expansion of its stocks of let commercial properties, which generate ongoing rental income and thus constant cash flows. In so doing, Eyemaxx uses the expertise offered by its experienced management team together with a strong team of real estate professionals, and also a well-established and broad network which opens up additional access to attractive properties and projects. As a result, the current project pipeline has been grown to a total of around EUR 855 million.
Shares of Eyemaxx Real Estate AG are listed in the General Standard of the Frankfurt Stock Exchange and in the direct market plus on the Vienna Stock Exchange. The company has also issued several bonds, which are likewise listed on the stock exchange.
Investor Relations / Financial Press
10.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Eyemaxx Real Estate AG|
|Phone:||+49 (0) 6021 386 69 17|
|Fax:||+49 (6021) 38 669 15|
|ISIN:||DE000A0V9L94, DE000A1TM2T3, DE000A12T374 , DE000A2AAKQ9 ,|
|WKN:||A0V9L9, A1TM2T, A12T37, A2AAKQ|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange|
|EQS News ID:||888391|
|End of News||DGAP News Service|