March 22, 2018 / 10:39 AM / a month ago

Vienna Insurance says several parties interested in its S Immo stake

VIENNA (Reuters) - Vienna Insurance (VIGR.VI) said on Thursday several parties had shown interest in its 10 percent stake in real estate company S Immo (SIAG.VI).

The Austrian real estate market could face a rebalancing of power after Germany’s Vonovia (VNAn.DE) bought Austria’s Buwog (BWOA.VI) and U.S. private equity firm Starwood Capital offered to buy a quarter of CA Immo (CAIV.VI) and up to 5 percent in Immofinanz (IMFI.VI).

    “Several parties have shown interest in our stake in S Immo,” a Vienna Insurance spokesman told Reuters.

    Asked whether the group was considering a sale of the stake, he said it was too early to say because “there is no concrete offer yet”.

    Reporting by Alexandra Schwarz-Goerlich, writing by Kirsti Knolle; editing by Jason Neely

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