01.04.2009 - Rieter sells Rieter Real Estate Ltd.
Winterthur - Rieter is to sell Rieter Real Estate Ltd. in Winterthur, a wholly owned subsidiary of the Rieter Group, to three institutional investors with effect from March 31, 2009. The parties have agreed not to disclose the purchase price.
The sale of this wholly owned subsidiary is a further step in the context of Rieter’s restructuring program and will enable the company to concentrate on its core activities.
Rieter Real Estate Ltd. pursues three business activities:
- management of its own property portfolio
- management of residential properties for the Rieter pension fund and third parties
- facility management for Rieter companies and third parties
Rieter Real Estate Ltd. has 22 employees and manages some 1000 apartments and various industrial properties in the Winterthur area.
Fur further information please contact:
Rieter Management AG
Head Corporate Communications
T +41 52 208 70 12
F +41 52 208 72 73