EQS-News: IMMOFINANZ increases shareholding in S IMMO to more than 50%
EQS-News: IMMOFINANZ AG / Key word(s): Acquisition/Real Estate
IMMOFINANZ increases shareholding in S IMMO to more than 50%
19.12.2022 / 18:14 CET/CEST
The issuer is solely responsible for the content of this announcement.
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IMMOFINANZ increases shareholding in S IMMO to more than 50%
IMMOFINANZ AG (“IMMOFINANZ”) is acquiring 17,305,012 shares in S IMMO AG
(“S IMMO”) from its core shareholder, CPI Property Group (“CPIPG”), thus
obtaining a controlling stake in S IMMO of 50% plus one share. The
purchase price amounts to EUR 337.5 million or EUR 19.5 per S IMMO share.
The transaction will be financed through a long-term credit facility
provided to IMMOFINANZ by CPIPG. The share purchase agreement was signed
today, 19 December 2022. The closing of the transaction will take place
before the end of 2022; consequently, IMMOFINANZ will fully consolidate S
IMMO in the 2022 annual financial statements.
“With this acquisition, IMMOFINANZ has achieved a long-term strategic
goal. The consolidation of the two companies will be value accretive and
leads to a stronger market position and allows us to capture synergies,”
explains Radka Doehring, Executive Chairwoman of IMMOFINANZ.
The purchase price for the shares was negotiated between IMMOFINANZ and
CPIPG based on a standard market valuation method and price parameters and
is backed by a fairness opinion of an independent investment bank. The
long-term financing granted by CPIPG is based on market conditions and has
a term until March 2028. Repayments will be made continuously out of
available funds; IMMOFINANZ has the option to make early repayments.
On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused
on the office and retail segments of eight core markets in Europe:
Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and
the Adriatic region. The core business covers the management and
development of properties, whereby the STOP SHOP (retail), VIVO! (retail)
and myhive (office) brands represent strong focal points that stand for
quality and service. The real estate portfolio has a value of
approximately EUR 5.5 billion and covers 260 properties. IMMOFINANZ is
listed on the stock exchanges in Vienna (leading ATX index) and Warsaw.
Further information under: [1] https://www.immofinanz.com
For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ AG
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
[2]communications@immofinanz.com
[3]investor@immofinanz.com 1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com
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19.12.2022 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 – 2290
Fax: +43 (0) 1 88090 – 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich,
Stuttgart; Warschau, Vienna Stock Exchange (Official Market)
EQS News ID: 1516901
End of News EQS News Service
1516901 19.12.2022 CET/CEST
References
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2. communications@immofinanz.com
3. investor@immofinanz.com
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