Announcement

TAG Immobilien AG: TAG Immobilien AG takes over control of DKB Immobilien AG

TAG Immobilien AG / Key word(s): Miscellaneous02.04.2012 / 16:52 Hamburg, 2 April 2012 - TAG Immobilien

TAG Immobilien AG: TAG Immobilien AG takes over control of DKB Immobilien AG


TAG Immobilien AG / Key word(s): Miscellaneous

02.04.2012 / 16:52


Hamburg, 2 April 2012 - TAG Immobilien AG ('TAG' in the following) has taken over control of DKB Immobilien AG after winning the bidding procedure administered by Deutsche Kreditbank AG for the sale of DKB Immobilien AG. After the share transfer contract was signed and concluded last week, on 30 March 2012 the supervisory board of DKB Immobilien AG appointed Messrs Rolf Elgeti and Georg Griesemann to the company's management board.

TAG has thus taken the first step towards integrating DKB Immobilien AG, which will from now on be consolidated in and managed by TAG Immobilien AG as a subsidiary. Messrs Wolfgang Schnurr and Stefan Lerch simultaneously resigned their seats on the Board. Parallel to the management changeover, Messrs Hans-Ulrich Sutter and Dr. Harboe Vaagt, members of the TAG Immobilien AG Board, joined the supervisory board of DKB Immobilien AG. The share transfer has become effective, so that DKB Immobilien AG will already be consolidated in TAG within the first quarter of 2012.

'We welcome the new staff members to our group and look forward to working with them to continue offering our tenants good service. TAG takes a sustainable, long-view approach to residential property management. By taking over DKB Immobilien AG, we have attained a structure and magnitude that lets us do this economically. Together with my two fellow Board members Ms Hoyer and Mr Griesemann, I greatly look forward to this task and to working with them on it. I would like to thank the departing Board members, Mr Schnurr and Mr Lerch. They have done outstanding work for DKB Immobilien AG in recent years and have been formative in its growth and positive performance,' says Chairman & CEO Rolf Elgeti.

 

Press enquiries:
TAG Immobilien AG
Investor & Public Relations
Britta Lackenbauer / Dominique Mann
Phone +49 40 380 32 0
Fax +49 40 380 32 390
pr@tag-ag.com



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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 390
E-mail: ir@tag-ag.com
Internet: www.tag-ag.com
ISIN: DE0008303504
WKN: 830350
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart
End of News DGAP News-Service

163634  02.04.2012