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Mann Buys 18% of IVG from Oppenheim Family

KARSRUHE, GERMANY-The private Mann group is led by Johannes Mann, son of Hugo Mann of Mann Mobilia and Wertkauf.

By Allan Saunderson | Updated on March 23, 2010

KARSRUHE, GERMANY-Privately-held property investor Mann has bought the 18.4% package of shares in Bonn-based listed real estate firm IVG from Oppenheim family interests – a move that follows the takeover of Cologne-based Sal. Oppenheim bank by Deutsche Bank. The price for the IVG package is subject to a confidentiality agreement.

The secretive Mann group, which in the 1990s exited the Germany-wide Mann Mobilia furniture group founded in the 1980s and the Wertkauf chain to WalMart, owns properties across the world with a focus on the US (Texas, New York) and Germany. The Mann group built, post WW II by Hugo Mann who died in 2008 worth over $3 billion, is now run by his son Johannes Mann. Also owning the Westhafen and Citibank buildings in Frankfurt, its acquisition of the outstanding share package from Solidas 3, the holding firm of the former Sal. Oppenheim partners, is subject to approval from Germany’s antitrust agency.

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