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| 19.09.2008 |
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| IMMOFINANZ and IMMOEAST are not affected by
the Lehman crisis
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In the course of today there have been rumours that IMMOFINANZ and / or its subsidiary IMMOEAST have been affected by the crisis of the investment bank Lehman Brothers.
These rumours are entirely unfounded. Neither IMMOFINANZ nor IMMOEAST have invested in securities which have been issued or guaranteed by Lehman or are in any way connected with Lehman.
Between the IMMOFINANZ Group and the Lehman Brothers Group there are only two business-related points of contact
- IMMOFINANZ has a long-term credit facility (54 million Euro) with a Lehman company
- A Lehman real estate fund is co-partner of the real estate company Adama (around 6 %), in which IMMOEAST owns a stake of around 32%. The full amount of the partner’s capital is paid.
Neither point results in a risk position for the IMMOFINANZ Group, either in terms of liquidity or in view of the company’s assets. |
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