M&A Activity • Oct 19, 2009
M&A Activity
Open in ViewerOpens in native device viewer
News Details
Corporate | 19 October 2009 14:45
InCity Immobilien AG planning to increase its informica stake
InCity Immobilien AG / Miscellaneous
19.10.2009
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
InCity Immobilien AG planning to increase its informica stake
Cologne, 19 October 2009 - InCity Immobilien AG, a group of companies
specialised in the planning and realisation of high-quality properties in
central urban locations, is planning to increase its stake in the listed
real estate company informica real invest AG. InCity has already secured
the option to acquire a further approximately 19% of informica shares from
parties associated with the company, including shares from several private
investors as well as the now insolvent Lehman Brothers bank. The company
plans to take over the shares in the coming year and in doing so it will
achieve its target stake in informica.
Together with a private financial investor, InCity currently holds a
majority stake of 66% in informica, a company which focuses on purchasing
promising, high-yield residential and commercial real estate. This stake
was acquired in April of this year from the previous majority shareholder
Absolute European Catalyst Fund. The similar alignment of the two companies
promises plenty of potential synergies, as does the common focus on
centrally-located real estate and the companies' overlapping regional
focus. The foundations for increased cooperation and swift leveraging of
synergies were laid at the end of H1 2009 by both companies appointing
officers to each other's Managing Board as well as the appointment of a new
informica Supervisory Board.
InCity Managing Board member André Peto: 'Expanding our stake in informica
provides an even better basis for working together in the future. The
integration of informica into our group of companies has proceeded as
planned up to now as has the leveraging of synergies identified before the
acquisition. The increased stake allows us to accelerate these
processes further. In addition, the move will significantly strengthen the
equity capital base of our group of companies. A complete takeover of
informica makes little business sense given the issues with German land
transfer tax'.
About InCity Immobilien AG:
InCity Immobilien AG specialises in the planning and realisation of
high-quality property in inner city locations. The company develops and
markets both residential and retail properties using its inhouse expertise
to minimise project running time and to deliver high value added in the
process. InCity pools the experience accumulated through about 250
high-quality heritage building redevelopment and new building projects for
discerning selfusers and investors. The company creates exclusive,
high-value space tailored to customers' needs in top locations of German
metropolitan areas. InCity underlines its corporate responsibility towards
society and the environment through participation in the UN Global Compact,
the international initiative of the United Nations for the promotion of
social and environmental principles. Further information:
www.incity.ag
InCity Immobilien AG
André Peto
Phone: +49 (0) 221 95 27 57 55
[email protected]
Investor Relations
Dariusch Manssuri
Phone: +49 (0) 221 91 40 970
[email protected]
19.10.2009 financial News transmitted by DGAP
Language: English
Company: InCity Immobilien AG
Mozartstr. 1
50674 Köln
Deutschland
Phone: +49 (0)221 952757-55
Fax: +49 (0) 221 95 27 57 57
E-mail: [email protected]
Internet: www.incity.ag
ISIN: DE000A0HNF96
WKN: A0HNF9
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard
in Frankfurt
End of News DGAP News-Service
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.