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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.

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: 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
communications@immofinanz.com
investor@immofinanz.com

IMMOFINANZ
1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com


23.01.2023 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com

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

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