VIENNA, July 21 Austrian property group Conwert
plans to start buying real estate in Germany again
next year, its CEO was quoted as saying in an interview, as it
pushes towards its goal of a strongly German-weighted portfolio.
"Yes, from next year acquisitions in Germany will be a topic
again, once we have fully digested the acquisitions of 2013,"
Chief Executive Clemens Schneider told Austrian newspaper
WirtschaftsBlatt in an interview published on Monday.
Conwert, which is trying to shed eastern European assets to
concentrate on more stable income from western Europe, is aiming
for 80 percent of its portfolio by area to be in Germany and 20
percent in Austria by the end of next year.
It bought 60 percent of German residential property group
Kommunale Wohnen at the end of 2012, and another large
German residential portfolio in August 2013, from General
Conwert currently has 74 percent of its assets in Germany by
area, and 63 percent by asset value in a total portfolio worth
2.86 billion euros ($3.87 billion).
Schneider added that Conwert, which scrapped its dividend in
2012 and reinstated it at 10 cents per share for 2013 - half
what had been expected - was considering share buybacks but not
planning one in the immediate future.
($1 = 0.7390 Euros)
(Reporting by Georgina Prodhan; Editing by Mark Potter)