Austria's troubled Österreichische Volksbanken AG (VBAG) has mandated investment bank Lazard to evaluate the sale of its Central and Eastern European real estate investment unit Europolis, in efforts to reposition its loss-making business. Alexander Bosak, spokesperson for Europolis, confirmed to PropertyEU that the banking group has started 'a formal process to evaluate all strategic options' including the establishment of a partnership for Europolis, which owns a portfolio of EUR 1.7 bn across CEE.
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