German real estate developer VBS Immobilien AG is in the market for companies that already own substantial office, housing and industrial property, and that offer interesting development possibilities.
It intends to bid for LEG Wohnen, a real estate company that will be auctioned off soon in Schleswig-Holstein.
VBS is also set to be renamed B&L Immobilien AG, which is the name of a long-established Hamburg real estate company whose owners hold 97.78% of VBS’s shares.
The company expects to reap €5m (DM10m) in earnings from taxes and write-offs in 2000. Proceeds from rents will total €46m (DM90m) .
Handelsblatt, 3 August 2000, page 15
