Property groups Immofinanz and S Immo said they are reviewing further alignment, coordination, merger or other forms of integration, with CPI Property Group (CPIPG) as supporting shareholder.
The groups mentioned that further integration will spur transparency and profitability for all stakeholders.
“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,” said Radka Doehring, Executive Chairwoman of Immofinanz.
CPIPG has a controlling stake of 76.9% in Immofinanz. At the same time, Immofinanz holds 50% plus one share in S Immo, while CPIPG controls 38.4% of S Immo’s share capital.
Immofinanz’s property portfolio has a value of around €5.5 billion, while that of S Immo has reached close to €3 billion by Q3 2022.
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