Changed stake-holdings

Baywa AG is selling its 51 per cent stake in the Italian IFS GmbH to RWA Raiffeisen Ware Austria AG. Headquartered in Bozen, South Tyrol, the IFS is a franchise system operating the Gartenmarkt and Tutto Giardino garden centre lines. The planned sale has been registered with the Austrian federal competition authority. Baywa holds a minority stake in the RWA.