Ott would sell shares in Orco subsidiaries

Speaking again with Bloomberg, Orco Property Group CEO JF Ott reveals that he’s considering selling shares in some of the listed company’s subsidiaries.

“It’s a smart idea for Orco,” he said in an interview in Prague. The developer will hold “serious” talks with some investors in the next “few” weeks. “My goal for the future would be to buy them out.”

There is no explicit clarification on this in the article, but the next paragraph of the story mentions the shareholdings Orco has in MaMaison, Orco Germany, and the Endurance fund, which it manages.

Orco’s announcement a couple weeks ago  that it planned to unwind the Endurance fund raised eyebrows, not least because it appeared to admit frayed relations with the fund’s investors, who are demanding greater control over the liquidation process.

Ott told Bloomberg he believes 2011 will be “a year of growth” for Orco, adding that in particular, former and current US investors in the company had a “fundamental appetite” for real estate exposure in CEE.

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