Evonik sells MGG to RAG subsidiary
Evonik Immobilien GmbH, the real estate subsidiary of Evonik Industries AG, has sold Montan-Grundstücksgesellschaft mbH (MGG) to DSK Beteiligungs-GmbH, a subsidiary of RAG Aktiengesellschaft. RAG exercised its preferential right to purchase the shares in MGG on the same financial terms as another buyer.
“The sale of MGG is a further important step towards focusing Evonik Immobilien GmbH on its core business of residential real estate,” said Dr. Peter Schörner, member of Evonik’s Executive Board and responsible for the Real Estate Business Area. Bernd Tönjes, Chairman of the Executive Board of RAG Aktiengesellschaft, commented: “We are pleased that MGG is now part of RAG. As an established real estate specialist it has long been involved in the remediation and marketing of former mining locations for RAG. In this way it can continue to play a key role in the development of the mining regions in North Rhine-Westphalia and Saarland.”
About Evonik
Evonik Industries is the creative industrial group from Germany which operates in three business areas: Chemicals, Energy and Real Estate. Evonik is a global leader in specialty chemicals, an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our strengths are creativity, specialization, continuous self-renewal, and reliability. Evonik is active in over 100 countries around the world. In its fiscal year 2006 more than 43,000 employees generated sales of about Euro 14.8 billion and an operating profit (EBIT) of over Euro 1.2 billion.
Disclaimer
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.