May 15, 2015 / 10:18 AM / 3 years ago

New Conwert top shareholder backs focus on residential portfolio

VIENNA, May 15 (Reuters) - New top shareholder in property group Conwert, Israeli investor Teddy Sagi’s MountainPeak, said on Friday it would back the Austrian company’s focus on its residential portfolio including through acquisitions.

Sagi also wants Conwert to restructure its finances to reduce costs, a step other Conwert shareholders have already demanded.

Sagi’s Cyprus-based MountainPeak Trading Limited bought a 24.8-stake in Conwert from The Haselsteiner Foundation and Albona Limited last week. (Reporting by Shadia Nasralla; editing by Jason Neely)

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