Vienna, 12 August 2018
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:
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Capital Market Financing Specialist
Corporate Finance & Investor Relations
T +43 (0) 1 87828 1780
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