Central European residential property developer Conwert Immobilien Invest plans to change its corporate structure into a Societas Europa (SE). It will request approval from shareholders at a special meeting in October. The company, which IPOed in November 2002, plans to set up a SE with a one-tier board system. After the conversion, Conwert will have a sole administrative body in accordance with international standards. The conversion from a stock corporation under Austrian law into an SE will not involve any change in the legal identity of the company.
Central European residential property developer Conwert Immobilien Invest plans to change its corporate structure into a Societas Europa (SE). It will request approval from shareholders at a special meeting in October. The company, which IPOed in November 2002, plans to set up a SE with a one-tier board system. After the conversion, Conwert will have a sole administrative body in accordance with international standards. The conversion from a stock corporation under Austrian law into an SE will not involve any change in the legal identity of the company.
Originating in Austria, the firm leads the field in Vienna for the development of older residential properties; it now operates in Germany, the Czech Republic and Hungary. Investing in high-quality, inner-city properties, Conwert's portfolio currently comprises 1,238 properties with a total usable space of more than 1.6 million m2. The total value amounts to EUR 2 bn.
