IVG Immobilien

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  • Wolfgang Schäfer, CEO
  • Michael F. Keppel, Chairman

IVG Immobilien AG is a listed real estate company headquartered in Bonn, which has emerged from the government-owned industry mbH.

History

IVG was founded in 1916 as a " collecting society for Mining Industry Co., Ltd. " (see also Montan - scheme).

In 1951, she changed its name to "Industrial Management mbH ".

In 1986 the company was transformed and partially privatized in a public company in 1993 was the full privatization with a broad on the exchange.

In 1996, IVG Holding a model, changed its name to " IVG Holding AG " in order and separated so that the operating of the strategic tasks.

Since 1997, the company focused more and more on office and commercial real estate in Europe and changed its name in 2002 - after the submission of non-real estate - oriented business areas - to the " IVG Immobilien AG ".

In April 2004, the IVG acquired 50.1 percent of the Oppenheim Immobilien- Investment Company Ltd. ( OIC ) and 2005 33 caverns of the Federal Republic of Germany in Etzel near Wilhelmshaven. The shares of the OIC were increased 2006/2007 to 94 percent, the OIC renamed " IVG Institutional Funds GmbH" and the IVG Funds integrated.

In the summer of 2013, the company is fighting against the threat of bankruptcy. The market capitalization has fallen to around € 54 million. In particular, the major project Squaire at Frankfurt airport has led to the critical situation of the company. An emergency loan, the creditor should save the company.

In August, the Group announced that 350 million euros are to be written off, so enters a loss of more than half of the share capital. On August 11, 2013, the creditors agreed to a restructuring plan, representing a bridge loan in the amount of 140 million euros in prospect, with an inventory of the company would be first secured. On August 20, 2013 reported the time of a protective shield under the Insolvency Code. On November 1, 2013, the Bonn District Court granted the request of the company to initiate proceedings in self-administration. IVG has, as of August, 2013, around 4.2 billion euros of debt and assets under management of more than 20 billion euros.

On 20 March 2014, the majority of the parties ( creditors and shareholders ) has approved the insolvency plan procedure of IVG Immobilien AG at the time appointed by the District Court Bonn discussion and voting date the bankruptcy plan developed by the Board. The insolvency plan still needs to be confirmed by the bankruptcy court. It provides for the payment of an insolvency rate of at least 60 percent of unsubordinated unsecured creditors. Subscription rights of existing shareholders in the manner prescribed by a capital reduction to zero capital was excluded. For Nachranggläubiger no control ( N-TV, March 17, 2014) was made. (DGAP -Ad hoc March 20, 2014) The previous CEO, Wolfgang Schäfer, resigned with immediate effect.

Divisions

Their market activities developed IVG through two divisions:

  • IVG Investment covering the segments of Real Estate, Development and Caverns
  • IVG Funds with the segments Institutional Funds and Private Funds.

Central service unit and operational interface to the market is IVG Asset Management.

IVG Investment

IVG Investment is responsible for the investment from the IVG: properties and caverns.

The Real Estate segment focuses on optimizing the value of office properties in its own portfolio. Investment focus is on the top German office markets and selected European cities. The development business on their own account is systematically recycled and continued in the context of asset management.

Core business of the Caverns segment is the construction of caverns for the storage of oil and gas as well as operation and leasing. Tenants of the caverns are creditworthy companies in the energy industry and public oil stockholding organizations.

IVG Funds

In the IVG Funds division develops, sells and management of fund products. For private investors, IVG has closed real estate funds for institutional investors and property funds.

Board of Directors

The Board of the Company currently consists of four people.

  • Wolfgang Schäfer (Chairman)
  • Hans Joachim Ziem
  • Guido Piñol
  • Hans Volkert Volckens (CFO )

Exchange

The main shareholders are:

  • 2.28% Mann Immobilien Management AG (John Mann, until 2008, inter alia, also controlled by Hugo man)
  • 4.19% Santo Holding AG
  • 4.64% Universal -Investment GmbH ( owned 50 % Berenberg Bank and Bankhaus Lampe )
  • 1.32% Kempen Capital Management N.V.
  • 3.00% Hermitage One Limited

The remaining 84.57 % of shares are in free float (as of November 2013).

Types of business entity Aktiengesellschaft International Securities Identification Number Profit (economics) Hugo Mann
405369
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