DGAP-News: InCity Immobilien AG / Key word(s): Miscellaneous InCity Immobilien AG: Sale of Berlin project developments to local partners 07.03.2011 / 08:26 --------------------------------------------------------------------- Sale of Berlin project developments to local partners - Sale to Primus Immobilien AG - Company sees early return of capital employed and fixed-tax profit shares Cologne, 7 March 2011 - On 3 March 2011, InCity Immobilien AG sold its joint projects with Primus Immobilien AG to the same company and its subsidiaries. InCity Immobilien AG will see an early return of its capital employed and contractually stipulated fixed-tax profit shares as part of the sale of the project developments. This will provide InCity Immobilien AG with cash inflow in the single-digit million range without incurring any further development or sales risks from the projects. 'The early sale of the Berlin project developments that we conducted with our partner completes another of the important strategic measures for restructuring InCity Immobilien AG that were launched in summer 2010, which also aim to dispose of high-risk old business. We will promptly invest the cash inflow from this transaction in attractive, high-return projects within the scope of the new InCity partner model,' said Jürgen Oppelt, CEO of InCity Immobilien AG. About InCity Immobilien AG InCity Immobilien AG specialises in providing innovative property project finance and property project investments as well as designing and realising high-quality properties. Accredited InCity partners with regional know-how provide continuous and nation-wide access to attractive projects. Within the scope of this cooperation, InCity's activities focus on providing innovative joint venture project finance and project controlling. The company uses intelligent realisation concepts to reduce project risks and at the same time maximise earnings. For further information, please go to www.incity.ag. Contact InCity Immobilien AG Mozartstrasse 1 50674 Cologne, Germany www.incity.ag Lars Kuhnke Phone: +49 (0) 221 95 27 57 55 l.kuhnke@incity.ag End of Corporate News --------------------------------------------------------------------- 07.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: InCity Immobilien AG Mozartstr. 1 50674 Köln Deutschland Phone: +49 (0)221 952757-55 Fax: +49 (0) 221 95 27 57 57 E-mail: info@incity.ag Internet: www.incity.ag ISIN: DE000A0HNF96 WKN: A0HNF9 Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 114536 07.03.2011
DGAP-News: InCity Immobilien AG: Sale of Berlin project developments to local partners
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