May 14, 2014 / 7:14 AM / 3 years ago

Orco Germany changes name to GSG Group

PRAGUE, May 14 (Reuters) - Shareholders of property group Orco Germany voted to change the name of the company to GSG Group, the company said on Wednesday.

It also said its board was targeting to invest 60 million euros of equity within the next twelve months as part of a new investment strategy to diversify its focus on more regions, including central and eastern European markets and high-yielding assets.

A general meeting voted to set the company's share capital at 400 million euros for a five-year period, the company said.

The group's biggest shareholder is Orco Property Group , which has been selling down its stake.

Reporting by Jason Hovet

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