Viennese Waltz: Immofinanz Prepares To Spin Off Residential Housing Business Buwog

Immofinanz(IMMZF) is a large, Vienna-based real estate company you probably haven’t heard of, though it operates on a massive scale. CEO Eduard Zehetner reiterated in a recent interview that the company plans to spin off Buwog, its residential real estate unit, by 2014. Zehetner said the company plans to acquire more German apartments and proceed with a separation…