9:40 | 17.07.2008
DGAP-News: KWG Kommunale Wohnen AG buys 1,083 apartments in Saxony
KWG Kommunale Wohnen AG / Miscellaneous
17.07.2008
Release of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Bremerhaven – 17th July 2008 – KWG Kommunale Wohnen AG has bought the
Hainichener Wohnungsgesellschaft mbH (HWG) with its portfolio of 1,083
apartments. The sale of the shares in the company was agreed by the local
council on 16th July 2008. The town of Hainichen lies between Chemnitz and
Dresden, in a convenient location by the A4 motorway, in the prosperous
federal state of Saxony. HWG is being sold to KWG by its owners, the
municipality of Hainichen and the local authority in Striegistal. KWG is
taking over 100% of HWG. The parties to the transaction have agreed not to
disclose the purchase price paid.
Dieter Greysinger, mayor of Hainichen, explains: ‘We are happy to have
found a buyer in KWG Kommunale Wohnen AG who will respect the tenants’
rights and is interested in making long-term investments in the company’.
Stavros Efremidis, Chairman of the Board at KWG, comments: ‘With HWG we
will be able to further expand our portfolio of apartments in a region with
convincing economic potential. We intend to keep the apartments in our
ownership in the long term, and will not be reselling them’.
With this transaction, KWG Kommunale Wohnen AG now owns a total of some
15,000 apartments, either directly or through holdings in other companies.
Thus KWG has long since surpassed its goal of building up a portfolio of
8,000 apartments by the end of 2008.
Contact:
KWG Kommunale Wohnen AG
Jutta Rehfeld
ABC-Straße 19
20354 Hamburg
Tel.: 040/ 2263088-140
eMail: rehfeld@kwg-ag.de
edicto GmbH
Axel Mühlhaus / Eva Ehmke
Zeißelstraße 19
60318 Frankfurt a. M.
Tel.: 069/ 9055055-2
eMail: amuehlhaus@edicto.de
17.07.2008 Financial News transmitted by DGAP
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Language: English
Issuer: KWG Kommunale Wohnen AG
ABC Strasse 19
20354 Hamburg
Deutschland
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir@kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342
WKN: 522734
Listed: Freiverkehr in Berlin, Stuttgart, München; Open Market in
Frankfurt
End of News DGAP News-Service
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