VIENNA Dec 19 Austrian property group
Immofinanz said on Thursday it was "far advanced" in
talks to buy a large portfolio of German homes from Solaia but
did not want to call the result.
"We are practically through," Chief Executive Eduard
Zehetner told a news conference. "There are a couple of issues
outstanding...it could still go wrong, which is why I don't want
to name a concrete date."
Immofinanz had hoped to sign the deal to buy the 18,000
housing units from Solaia, a joint venture of Italy's Prelios
and Deutsche Asset & Wealth Management, by
the end of the year.
The acquisition is key to Immofinanz's plans for a spin-off
or initial public offering of its Buwog residential unit.
Zehetner said an IPO was "still possible. It's the less
likely variant but never say never. If the markets change
significantly then that's still a possible option."
(Reporting by Georgina Prodhan; Editing by Michael Shields)