EQS-News: IMMOFINANZ and S IMMO to review strategic synergies
EQS-News: IMMOFINANZ AG / Key word(s): Real Estate/Alliance
IMMOFINANZ and S IMMO to review strategic synergies
23.01.2023 / 12:20 CET/CEST
The issuer is solely responsible for the content of this announcement.
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IMMOFINANZ and S IMMO to review strategic synergies
IMMOFINANZ AG (“IMMOFINANZ”) and S IMMO AG (“S IMMO”) have signed a
framework agreement which establishes a joint process to review further
alignment, coordination, merger or other forms of integration across the
two groups. CPI Property Group (“CPIPG”) will participate in the project
as a supporting shareholder. The ultimate objective is to identify
synergies and efficiencies that will improve transparency and
profitability for all stakeholders.
„Both IMMOFINANZ and S IMMO have superb real estate portfolios managed by
local teams of experienced professionals,” said Radka Doehring, Executive
Chairwoman of IMMOFINANZ. “This framework agreement allows both companies
to share best practices and chart a path to greater synergies. With the
strong support of CPIPG, I am confident that this process will be
successful.”
CPIPG owns approximately 76.9% of IMMOFINANZ (106,579,581 shares).
IMMOFINANZ has a majority investment of 50% plus one share in S IMMO
(36,804,449 shares), while CPIPG holds roughly 38.4% of the share capital
of S IMMO (28,241,094 shares).
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 roughly 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
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
[2]communications@immofinanz.com
[3]investor@immofinanz.com
IMMOFINANZ
1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com
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23.01.2023 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: 1541203
End of News EQS News Service
1541203 23.01.2023 CET/CEST
References
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2. communications@immofinanz.com
3. investor@immofinanz.com
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