Karlsruhe-based Mann Immobilien-Verwaltung has become IVG Immobilien's new major shareholder after acquiring an 18.4% stake in the German fund manager from Solidas 3, the former partners of bank Sal. Oppenheim. IVG said in a statement on Thursday that the transaction is subject to the approval of Germany's antitrust agency.
Karlsruhe-based Mann Immobilien-Verwaltung has become IVG Immobilien's new major shareholder after acquiring an 18.4% stake in the German fund manager from Solidas 3, the former partners of bank Sal. Oppenheim. IVG said in a statement on Thursday that the transaction is subject to the approval of Germany's antitrust agency.
IVG's CEO Gerhard Niesslein welcomed the move, saying: 'The investment of this dedicated and experienced real estate investor is a great sign of confidence in the strategic realignment of our company.'
IVG Immobilien manages assets worth EUR 22.7 bn and is located in 18 major German and European cities. The company manages funds and mandates with a volume of EUR 15.9 bn.
