CPI Europe AG — M&A Activity 2013

Feb 25, 2013

News Details

Corporate | 25 February 2013 10:32

IMMOFINANZ Group: Closing for sale of Grand Hotel in St. Moritz

IMMOFINANZ AG / Key word(s): Real Estate/Disposal

25.02.2013 / 10:32

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IMMOFINANZ Group has completed the sale of 100% of the shares in the Swiss
Les Bains de St. Moritz Holding AG, the owner of the Kempinski Grand Hotel
des Bains. The closing took place on 22 February 2013.

The new owner of this 7.5 hectare property, which is the site for the Grand
Hotel, the Casino St. Moritz, the Kempinski Hotel Residences, the spa and
various annexes, is an international investor. The sale price for the
transaction exceeded the carrying amount.

Based on the carrying amount, the Kempinski was IMMOFINANZ Group's most
important property in the Hotel segment. 'We have also started the sale
process for two other recently renovated hotels - the Hilton Danube and the
Leonardo Vienna. Our strategy to divest this asset class is now approaching
completion', indicated Eduard Zehetner, CEO of IMMOFINANZ Group.

On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe
and is included in the leading ATX index of the Vienna Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,820 investment properties
with a carrying amount of approx. EUR 10.51 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. The company's goal is to generate greater
profitability along the entire value change with a clearly defined,
standardised and industrialised process. IMMOFINANZ Group concentrates its
activities in the retail, office, logistics and residential segments of
eight regional core markets: Austria, Germany, Czech Republic, Slovakia,
Hungary, Romania, Poland and Russia. Further information under:
www.immofinanz.com

For additional information contact:

MEDIA INQUIRIES

Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43(0)699 1685 7290
communications@immofinanz.com

INVESTOR RELATIONS

Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor@immofinanz.com

End of Corporate News

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)

End of News DGAP News-Service

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