March 9, 2016 / 5:43 PM / a year ago

BRIEF-Immofinanz says to sell 10 pct stake in Buwog

March 9 (Reuters) - Immofinanz AG :

* Announces intention to sell 10 million shares in Buwog AG by way of an accelerated bookbuilding

* Placing shares represent approximately 10 pct of company's issued share capital

* Proceeds of placement will be used to optimize overall cost of debt of Immofinanz via repayment of corporate loans to involved investment banks

* Barclays Bank plc, Deutsche Bank AG and J.P. Morgan Securities plc have been appointed as global coordinators and joint bookrunners for placement

* The placing shares are being offered by way of an accelerated bookbuilding to institutional investors, which will be launched immediately following this announcement Further company coverage:

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