FRANKFURT Feb 3 German real estate group TAG
Immobilien AG said on Monday that an external audit
showed that its chief executive not shown poor judgment in some
of his business decisions, as had been alleged by a newspaper
German weekly Welt am Sonntag had said in October there had
been a possible conflict of interest in some of CEO Rolf
Elgeti's property transactions and that the company had overpaid
on other deals.
Auditing firm PricewaterhouseCoopers AG "has completely
invalidated the allegations that a newspaper had raised against
organs of TAG in early October 2013, regarding allegedly
disadvantageous acquisitions and conflicts of interest between
the CEO Mr Rolf Elgeti and TAG, and has completely refutes the
negative assertions," TAG said in a statement.
(Reporting by Maria Sheahan; Editing by John Stonestreet)