Austria's Immofinanz appoints Daniel Riedl as Buwog CEO

VIENNA Wed Oct 2, 2013 10:31am EDT

Related Topics

VIENNA Oct 2 (Reuters) - Austrian property group Immofinanz has named Daniel Riedl as chief executive of its Buwog operation, for which it plans a spin off to existing shareholders or an initial public offering next year.

Riedl, who is currently supervisory board chief of Buwog, will remain on the Immofinanz executive board with his current responsibilities including real-estate development and marketing until the planned listing, the company said on Wednesday.

Immofinanz reiterated that it would initially reduce its stake in Buwog, the subsidiary that holds its German and Austrian residential property portfolio, to less than 50 percent and said that preparations have begun for a Frankfurt listing next year.

(Reporting by Georgina Prodhan; Editing by David Goodman)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article