EANS-Adhoc: Vivacon AG sells five development projects

ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.


Vivacon AG (ISIN 000604 8911) has signed a purchase contract with an international investor about a part of its development business. The transaction should be implemented as of 30th June 2009. Condition for the closing is among others the banks approval to change of control. Details of the purchase price were not disclosed.

The sold assets are in total five development projects in Berlin, Hamburg and Düsseldorf with a total project volume of approximately EUR 345m and c. 610 units. A part of the employees in the development segment will change to the purchaser in the course of the transaction. The buyer - an experienced project developer for residential properties - intends to finalize the projects as planned. The development projects, which remain at Vivacon AG, will be finalized by the company as planned.

The disposal of part of the development business is an important part in the context of the ongoing restructuring of the Vivacon AG group. Vivacon AG will not only receive the purchase price but the common drain on liquidity during the construction phase for the five development projects will be omitted because of the disposal. In addition, overhead costs will be reduced.

end of announcement euro adhoc

emitter: Vivacon AG Im Zollhafen 2-4 D-50678 Köln phone: +49 (0)221 1305621-782 FAX: +49 (0)221 1305621-952 mail: ir@vivacon.de WWW: http://www.vivacon.de sector: Real Estate ISIN: DE0006048911 indexes: SDAX, CDAX, Classic All Share, Prime All Share, DAX International 100 stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, regulated dealing: München language: English

Rückfragen & Kontakt:

Sven Annutsch

Tel. ++49(0)221 130 5621-630

Email: sven.annutsch@vivacon.de