April 01, 2009.
Rieter sells Rieter Real Estate Ltd.
Rieter Holding Ltd., Winterthur/Switzerland, is to sell Rieter Real Estate Ltd., Winterthur/Switzerland, to 3 institutional investors with effect from March 31, 2009. 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 3 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. (MM)