15. Juni 2010 
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conwert: voluntary public takeover offer for ECO Business-Immobilien AG
conwert Immobilien Invest SE, listed on the Vienna Stock Exchange, announces that it will submit a voluntary public takeover bid to all the other shareholders of ECO Business-Immobilien AG. The offer price will amount to €6.50 in cash. conwert will thus offer a premium of 16.5% on the closing price of the ECO-share of 14 June 2010 and a premium of 34.3% on the 6-month average weighted share price.
conwert considers the public takeover bid an optimal solution in order to efficiently enhance the value of ECO Business-Immobilien AG in the interests of all shareholders. Johann Kowar, Chairman of the Executive Board of conwert Immobilien Invest SE, comments: “Although ECO Business-Immobilien AG manages the operating business well, its stock exchange listing is less liquid due to the company’s size and difficult capital markets access means the company has limited growth opportunities. As a result, the share price is significantly below the book value of the company and, being the largest single shareholder, we are not satisfied with this situation. The public takeover offer enables us to materialise these latent values rapidly and efficiently in the interests of both the ECO and conwert shareholders. Furthermore, for conwert, this transaction is earnings and value accretive. ECO shareholders will be offered the unique opportunity to realise a short-term value growth through the attractive cash offer of €6.50 per share.”
conwert considers the public takeover bid an optimal solution in order to efficiently enhance the value of ECO Business-Immobilien AG in the interests of all shareholders. Johann Kowar, Chairman of the Executive Board of conwert Immobilien Invest SE, comments: “Although ECO Business-Immobilien AG manages the operating business well, its stock exchange listing is less liquid due to the company’s size and difficult capital markets access means the company has limited growth opportunities. As a result, the share price is significantly below the book value of the company and, being the largest single shareholder, we are not satisfied with this situation. The public takeover offer enables us to materialise these latent values rapidly and efficiently in the interests of both the ECO and conwert shareholders. Furthermore, for conwert, this transaction is earnings and value accretive. ECO shareholders will be offered the unique opportunity to realise a short-term value growth through the attractive cash offer of €6.50 per share.”
