LEG Immobilien eyes capital increase for larger acquisitions

DUESSELDORF, Germany Fri Feb 7, 2014 4:49am EST

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DUESSELDORF, Germany Feb 7 (Reuters) - German property group LEG Immobilien is confident that the stock market would easily absorb any capital increase to fund a large acquisition of residential real estate.

"We can also fund larger acquisitions through a capital increase," Chief Financial Officer Eckhard Schultz told journalists late on Thursday.

He said the benign share price reaction to the placement of a 28.65 percent stake by the private equity arm of Goldman Sachs at the end of last month showed there was "readiness to provide capital to this business model".

The group would also look to buy asset outside its main market of North Rhine-Westphalia, Germany's most populous regional state. (Reporting by Matthias Inverardi; Writing by Ludwig Burger; Editing by Christoph Steitz)

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