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Evonik Industries exits real estate to concentrate on specialty chemicals

4:53 AM MDT | July 6, 2013 | Natasha Alperowicz

Evonik Industries has completed a previously announced merger of its real estate interests with THS, a real estate company owned equally by Evonik and IG BCE, the German mining, chemical, and energy union. This announcement follows the management's pooling of its real estate holdings under a common brand, Vivawest, on 1 January 2012. In the final stage of the reorganization, Vivawest and THS have been combined into a new legal entity, also named Vivawest, to create Germany’s third-largest real estate company.   RAG-Stiftung, which owns a...

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