Fellner Wratzfeld & Partner has advised Immobilien Holding on the sale of its shares in Arwag Holding to the Fund for Temporary Housing in Vienna.
Financial details of the deal, which closed on October 6, were not disclosed.
According to Fellner Wratzfeld & Partner, “the Immobilien Holding and Erste Bank decided to jointly sell their shares in Arwag Holding.” The Fund for Temporary Housing in Vienna was established in 1971 for the purpose of offering advice and support to immigrants. The firm reports that, “as a result of the sale, the fund now holds slightly less than 50% of the shares in Arwag Holding.”
Immobilien Holding is an Austrian real estate developer and a subsidiary of UniCredit.
Fellner Wratzfeld & Partner’s team consisted of Partner Markus Fellner, Attorneys-at-Law Peter Stiegler, Elisa Maria Kaplenig, and Associate Daniel Wadl.
Fellner Wratzfeld & Partner declined to provide information about counsel for the buyers.