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Petrus Advisers recommend that all existing shareholders not tender their shares into the offer by Vonovia SE

Published: March 20, 2017; 16:48 · (FriedlNews)

Petrus Advisers maintain a substantial position in conwert Immobilien Invest SE (conwert) and recommend that all existing shareholders not tender their shares into the offer by Vonovia SE for up to 100% in conwert against cash or Vonovia shares. The recent and continued progress of conwert combined with the expected synergies from becoming part of the Vonovia group will substantially increase the cash flow generation of conwert.

Petrus Advisers maintain a substantial position in conwert Immobilien Invest SE (conwert) and recommend that all existing shareholders not tender their shares into the offer by Vonovia SE for up to 100% in conwert against cash or Vonovia shares. The recent and continued progress of conwert combined with the expected synergies from becoming part of the Vonovia group will substantially increase the cash flow generation of conwert.

At the same time, we deem conwert over-capitalized and
consequently expect significant distribution potential. We believe it
is highly attractive for minority shareholders to participate in such
cash generation / distributions. Lastly, an exchange of conwert into
Vonovia or acceptance of its cash offer causes tax disadvantages for
Austrian capital gains exempt investors, which we deem another reason
not to accept.

Rückfragehinweis:
press@petrusadvisers.com
+44 (0)20 7933 8831

Digital press kit: http://www.ots.at/pressemappe/4241/aom

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