TAG Immobilien sells its shares in Estavis AG

TAG Immobilien AG has sold its 20-percent stake in Estavis AG at an attractive price. The transaction was executed at the end of January; the parties have agreed to keep the purchase price confidential. TAG Immobilien AG will continue to regard Estavis AG as a partner following the sale of its holding, and will continue to work with the company on specific projects.

TAG Immobilien AG CEO Rolf Elgeti says: 'Though we continue to have great confidence both in Estavis's management and its business model, it made sense for us to sell our share package at a good price. TAG's focus and future is the continued expansion of its residential portfolio.'