TAG Immobilien AG sells its shares in ESTAVIS AG

TAG Immobilien AG / Key word(s): Miscellaneous

02.02.2012 / 17:30


TAG Immobilien AG sells its shares in ESTAVIS AG

(Hamburg, 2 February 2012) - TAG Immobilien AG ('TAG' in the following) has sold its 20-percent stake in ESTAVIS AG at an attractive price. The transaction was executed at the end of January; the parties have agreed to keep the purchase price confidential.

TAG Immobilien AG will continue to regard ESTAVIS AG as a partner following the sale of its holding, and will continue to work with the company on specific projects.

TAG Immobilien AG CEO Rolf Elgeti says: 'Though we continue to have great confidence both in Estavis's management and its business model, it made sense for us to sell our share package at a good price. TAG's focus and future is the continued expansion of its residential portfolio.'

About TAG Immobilien AG:

TAG Immobilien AG (TAG) is a publicly listed real-estate company with a 125-year history. The SDAX-listed company currently has a market cap of approx. EUR 450 million. Its primary businesses are residential and commercial properties in German metropolises, as well as property-related services. Through active asset management and targeted inventory development, TAG gradually leverages existing potential, which optimises the rental profits and increases the value of the portfolio. Above and beyond this, TAG's business strategy focuses on continued growth. Here, the company focuses on sites where it already has investments, such as Berlin, Hamburg, Leipzig, NRW and Salzgitter, so that asset and property management for the newly acquired properties can be handled with existing resources.

Press enquiries:
TAG Immobilien AG
Investor & Public Relations
Britta Lackenbauer / Dominique Mann
Tel. +49 40 380 32 0
Fax +49 40 380 32 390

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Company:TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Phone:040 380 32 0
Fax:040 380 32 390
Listed:Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart
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