October 19, 2012 / 2:30 PM / 5 years ago

Immofinanz sees possible Buwog unit IPO in 2 years

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VIENNA, Oct 19 (Reuters) - Austria's Immofinanz could list its Buwog residential property unit in two years, once it has strengthened its German portfolio, Chief Executive Eduard Zehetner said on Friday.

Zehetner added that an initial public offering (IPO) was only one option for the subsidiary, which Immofinanz could also sell or spin off.

"There are however still many steps in the meantime, before one could do it," he said at an investment conference in Vienna.

Immofinanz bought its original Buwog portfolio of state housing from the Austrian government for almost 1 billion euros ($1.3 billion) in 2004.

Prosecutors are looking into whether the sale was conducted properly and are investigating several people including former Finance Minister Karl-Heinz Grasser. Grasser has denied any wrongdoing. ($1 = 0.7638 euros) (Reporting by Angelika Gruber, Writing by Georgina Prodhan; Editing by Helen Massy-Beresford)

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