The board of real estate group Immofinanz has approved a framework with CPI Property Group (CPIPG), which holds 75% of the company, which paves the way for future consolidation of the two groups.
The companies have established a joint review process to examine potential business combinations, cross-border merger or other form of integration or combination of assets, functions and key corporate entities, according to an Immofinanz statement.
“The objective is to optimise the group’s capital structure and capture both operating and cost efficiencies for the benefit of all shareholders,” said Immofinanz.
Immofinanz’s portfolio comprises more than 500 properties with a combined value of €8.1 billion.
