Immofinanz has successfully closed the package sale of its roughly 26% investment in CA Immobilien Anlagen AG to SOF-11 Starlight S.à r.l., a member company of the Starwood Capital Group.
The closing took place today, 27 September 2018, following the receipt of the relevant anti-trust approvals. The sale price for the package totals €757.9 million. After the repayment of €250.0 million in loans related to the investment, the net cash flow for Immofinanz amounts to approximately €507.9 million.
Part of these funds will be used for the share buyback programme 2018/19, which was started on 16 July and covers a volume of up to 9.7 million shares or roughly 8.66% of share capital.
As seen over the entire investment holding period – which covered nearly two years – Immofinanz realised a total gain on sale of approximately €184.0 million on its stake in CA Immo (including dividends and after the deduction of ancillary costs). That represents a total return on investment of roughly 30%.
