DGAP-News: MountainPeak / Key word(s): Letter of Intent
2015-05-15 / 11:58

---------------------------------------------------------------------
* MountainPeak to support focused value creation strategy * MountainPeak to work with conwert and all shareholders in appointment of new CEO and strengthening of the administrative board with real estate experts
London, 15 May 2015 - MountainPeak Trading Limited ("MountainPeak") has closed the transaction for the purchase of 24.79% of conwert Immobilien Invest SE ("conwert") from the Haselsteiner Familien-Privatstiftung. conwert is a leading Austrian residential real estate company listed on the Vienna Stock Exchange. MountainPeak is part of the Teddy Sagi Group, controlled by real estate investor and entrepreneur Teddy Sagi. With this transaction, MountainPeak becomes conwert's largest shareholder. Credit Suisse acted as agent to MountainPeak.
MountainPeak supports a focused value creation strategy that aims at maximizing value for the benefit of all stakeholders. MountainPeak will work with all shareholders and support conwert in finding a strong CEO and appointing real estate experts to the company's administrative board. As core shareholder, MountainPeak is focusing on the following key strategic value drivers:
- driving value from privatization of low-yielding but highly valued residential assets;
- refocusing the businesses on its residential core portfolio; - restructuring current financing to reduce costs, and - pursuing acquisitions in core residential areas. conwert, founded in 2001, has been active in the acquisition, development, rental, marketing and sale of real estate assets and services. The company now holds over 30,000 residential apartments and commercial assets, focusing mainly on residential apartments in metropolitan areas (74% of its operations) with the remainder being commercial assets. Approximately 74.5% of conwert's properties are located in Germany, 22.6% in Austria, and the rest in neighbouring countries.
conwert is traded on the Viennese Stock Exchange at a valuation of nearly EUR 1bn and holds assets valued at over EUR 3bn with financial debt of EUR 1.6bn, partly in convertible bonds, with an EPRA NAV of ~EUR 15.7/share vs. EUR 11.3/share. conwert is currently trading at a significant discount to comparable companies, which are valued at a premium of up to 40% to EPRA NAV.

About Teddy Sagi Group
MountainPeak Trading Limited is part of the Teddy Sagi Group. The group is headed by Teddy Sagi, an experienced Israeli business founder, technology and real estate entrepreneur.
Teddy Sagi's operations encompass international property assets, online infrastructure, software and digital advertising, global foreign exchange trading technology and online payment provision, and employ thousands of people across the globe. The value of the Teddy Sagi Group currently exceeds EUR 4.3bn.
The Teddy Sagi Group has a long track record in the real estate sector in the UK, Germany and other markets. In the UK, the Group's most significant asset is an 87 percent shareholding in Market Tech Holdings plc, currently traded at c. $1.4billion market cap. This company owns 12 acres of land in and around the iconic Camden markets, one of the UK's leading tourist attractions, with around 28 million visitors every year. Under Market Tech's new ownership, the previously segregated Camden markets have been unified under a single umbrella brand, investing heavily in its e-commerce infrastructure, which has led to a significant increase in sales and revenues.
In Germany, the Group founded, held and sold majority stakes in Grand City Properties, ultimately leading to the foundation of the Grand City Hotels chain listed on the Frankfurt Stock Exchange.
On May 12 2015, at the London Park Lane Hilton, Mr Sagi was honoured with the prestigious award of Entrepreneur of The Year at the renowned Variety Club Props Award, recognising his contribution to the global real estate industry.

Media contact

Hedan Orenstein
+972-3- 6081525
hedan@rcspr.co.il



---------------------------------------------------------------------
2015-05-15 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------

358001 2015-05-15