With the signing of share purchase agreements, Immofinanz AG has purchased 19,499,437 bearer shares (representing an investment of 29.14%) of S Immo AG from member companies of the RPR Group (approx. 14.6 million shares) and the SIGNA Group (approx. 4.9 million shares). The transaction is subject to various conditions precedent, in particular, the approval of the antitrust authorities in Austria, Germany and other jurisdictions. The Supervisory Board of Immofinanz approved the purchase today.
The purchase price amounts to €20.0 per share, for a total transaction volume of approximately €390.0 million. It will be funded from available liquidity and, if necessary, through additional bank financing. The transaction is expected to close in several months.
The real estate portfolio of S Immo complements the Immofinanz portfolio in the office and retail areas. The transaction is therefore expected to strengthen the market position of both companies and create synergies for the management of the properties. In the event of a future combination of the two companies, the increased size would lead to a stronger position on the capital market. Opportunities for the realisation of substantial synergies in financing and overhead costs would also be possible.
The situation with regard to Immofinanz’s investment in CA Immo remains unchanged. Immofinanz is evaluating other strategic options independent of a possible merger. This also includes the possible profitable sale of the CA Immo investment.
