CPI Europe AG — M&A Activity 2015

Mar 17, 2015

News Details

Corporate | 17 March 2015 08:39

IMMOFINANZ Executive Board on the announced offer by CA Immo/O1 Group: ‘Much too low’

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous

2015-03-17 / 08:39

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The Executive Board of IMMOFINANZ AG issues the following statement in a
first reaction to the announcement by CA Immobilien Anlagen AG and O1 Group
Limited that they intend to issue a joint voluntary tender offer for up to
approx. 150.9 million IMMOFINANZ shares: "The announced offer price of EUR
2.80 per share, which represents an increase over the price indicated in
the CA Immo/O1 statement on 25 February, is still much too low. It is more
than one-third below the NAV (Net Asset Value) per IMMOFINANZ share and
even lower than yesterday's closing price", commented CEO Eduard Zehetner.

"On the other hand, we are pleased that both companies see an investment in
IMMOFINANZ as more promising than an increase in the O1 holding in CA Immo.
This offer by CA Immo also confirms that the company now classifies
investments in Russia - in contrast to its previously communicated strategy
- through a shareholding in IMMOFINANZ to have significant future
potential. In any event, we welcome the new shareholders who - as has
finally been disclosed - already hold roughly 3% of IMMOFINANZ. We cannot,
however, imagine that these two parties will be able to accumulate the
desired number of shares over the stock exchange at the announced price. We
cannot recommend this offer to our shareholders at the announced price",
indicated Zehetner.

On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe.
The company is included in the leading ATX index of the Vienna Stock
Exchange and also trades on the Warsaw Stock Exchange. Since its founding
in 1990, the company has compiled a high-quality property portfolio that
now comprises more than 470 investment properties with a carrying amount of
approx. EUR 6.8 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.
IMMOFINANZ Group concentrates its activities in the retail, office and
logistics segments of eight regional core markets: Austria, Germany, Czech
Republic, Slovakia, Hungary, Romania, Poland and Russia. Further
information under: http://www.immofinanz.com / http://blog.immofinanz.com /
http://properties.immofinanz.com

For additional information please 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

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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: Regulated Unofficial Market in Berlin, Munich, Stuttgart;
Open Market in Frankfurt ; Wien (Amtlicher Handel /
Official Market)

End of News DGAP News-Service

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