VIB Vermoegen AG

M&A Activity • Jun 19, 2006

News Details

Corporate | 19 June 2006 17:37

VIB Vermögen AG: VIB Vermögen AG plans to convert the BBI AG into a real estate holding

Corporate news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— • VIB Vermögen AG plans to convert the BBI AG into a real estate holding • Net Asset Value of the VIB Vermögen AG increases to EUR 9.08 Neuburg an der Donau, 19th June 2006 – The VIB Vermögen AG is planning the conversion of the associated company Bürgerliches Brauhaus Ingolstadt AG (BBI AG) into a real estate holding company this year with the goal of its becoming a REIT as soon as the legal framework has been created. In April 2006, the VIB Vermögen AG acquired a 94.45% shareholding in the BBI AG. In addition to the Herrnbräu brand, the company also has a comprehensive real estate portfolio. At the Annual General Meeting due to take place on 24th August, and in preparation for the conversion, the managing and supervisory boards of the BBI AG will propose an increase of EUR 26,124.36 in the company’s share capital, bringing it up to EUR 1,560,000 through the conversion of reserves. Following that, the number of no-par-value shares is to be increased from 30,000 to 1,560,000 by a 1:52 stock split. In addition, in the second half of the year 2006, the BBI AG is planning to increase share capital to a total of 15,600,000 no-par-value shares through the issue of up to 14,040,000 new bearer shares against cash contributions. The new equity will serve to increase the holdings of the portfolio, which primarily comprises commercial real estate in the high-growth region of Southern Germany. The planned capital increase will probably reduce the VIB Vermögen AG stake in the BBI AG to below 50%. ‘This transaction is an important element of our company stategy. We can benefit from the opportunities that are beginning to emerge through the new regulations on German REITs. At the same time, we are continuing our business of acquiring and holding high-yield investments in commercial real estate in Southern Germany,’ explained Ludwig Schlosser, CEO of the VIB Vermögen AG. This business strategy is also reflected in the increase in the company’s Net Asset Value (NAV). Accordingly, the VIB Vermögen AG was able to increase its NAV of EUR 7.98 from the beginning of the year 2006 by 13.8%, bringing it up to EUR 9.08 (as at 29th May 2006) and thus enhancing the VIB Vermögen AG’s successful niche position in Southern Germany. Profile of the VIB Vermögen AG: The VIB Vermögen AG is a medium-sized real estate holding company that focuses its investments on commercial real estate in the South Bavarian region. Founded in 1993 as a business partnership, the VIB was converted into a public company in the year 2000. Since then the company has developed its core competency in the fields of acquisition and administration of its own real estate and of investing in companies with real estate assets. The real estate portfolio of the VIB Group comprises over 40 different properties including both an industrial plant and an industrial estate in Neuburg/Donau, a commercial park in Günzburg and the DonauCityCenter in Ingolstadt. A Burger King Restaurant near Pfaffenhofen on the A9 and a retail and services centre in the commercial area of Memmingen-Nord are also part of the company’s holdings. With a total rentable area of over 198,000 m², the company achieves sustainable rental yields of over 8%. Since 28th November 2005, the shares of the VIB Vermögen AG have been listed in the market segment M:access of the Munich Stock Exchange and also at the Frankfurt Securities Exchange (WKN 245 751). Contact Investor Relations: cometis AG Ulrich Wiehle Unter den Eichen 7 65195 Wiesbaden Tel: 0611 / 205855-11 Fax: 0611 / 205855-66 E-mail: ulrich.wiehle@vib-ag.de (c)DGAP 19.06.2006 ————————————————————————— Language: English Issuer: VIB Vermögen AG Luitpoldstraße C 70 86633 Neuburg/Donau Deutschland Phone: 08431 / 504-955 Fax: 08431 / 504-747 email: rainer.hettmer@vib-ag.de WWW: www.vib-ag.de ISIN: DE0002457512 WKN: 245751 indices: End of News DGAP News-Service —————————————————————————