Conwert chairwoman, deputy to step down as Sagi arrives

May 16, 2015 6:26 AM

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VIENNA May 16 The chairwoman of Austrian property group Conwert and her deputy will step down next month to make room for new supervisory board members now Israeli investor Teddy Sagi has become the biggest shareholder, Conwert said.

Sagi's MountainPeak Trading Ltd bought a 24.8 stake in Conwert from the Haselsteiner Family Foundation and Albona Ltd last week after a billion euro ($1.1 billion) takeover bid from Deutsche Wohnen fell through.

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