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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
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Corporate raider Vedder likely to extend German IVG shareholding
One of Germany's best known corporate raiders Clemens Vedder says he still intends to expand his shareholding in listed property group IVG, particularly if the share falls further. Vedder, who heads the Cayman Islands-based hedge fund Goldsmith Capital, said although he sees no near-term recovery in US housing, the IVG investment is supported by its lack of exposure to the US and its solid asset base. IVG stock was recently trading around E5 but has reached nearly E7 in recent months. "We bought in between e3.20 and e3.60 and we are not finished yet; we will certainly extend this position if the share price falls back," he said. "We have time to wait this out; we are in no hurry." (See upcoming PIE Editions for full story)