AI assistant
CPI Europe AG — M&A Activity 2016
Dec 19, 2016
Preview isn't available for this file type.
Download source fileDGAP-Ad-hoc: IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous
IMMOFINANZ AG adjusts the preliminary timetable for the planned merger with
CA Immobilien Anlagen AG
19-Dec-2016 / 12:24 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
IMMOFINANZ AG is announcing a change in the preliminary timetable for the
intended merger with CA Immobilien Anlagen AG. The reason is the planned
divestment of IMMOFINANZ's Russian property portfolio, which is a condition
for the merger of the two companies. The Executive Board and Supervisory
Board of IMMOFINANZ today decided to schedule a longer period than
originally considered for the process to separate the Russian properties.
The recent stabilisation of the economy in Russia has contributed to this
decision.
A structured bidding process for IMMOFINANZ's Moscow shopping centers is
scheduled to start at the beginning of 2017. According to current
estimates, the transaction should close in 2017.
The detailed merger discussions between IMMOFINANZ and CA Immo will be
rescheduled until the separation of IMMOFINANZ's Russian portfolio is
completed. In the interim, IMMOFINANZ will use the time as best as possible
to prepare for the planned merger. The shareholder meetings to vote on the
merger are expected, from the current point of view, to take place in 2018.
On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused
on the retail and office segments of eight core markets in Europe: Austria,
Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. 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 approx. EUR 5.4 billion and covers more than 360
properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading
ATX index) and Warsaw. Further information under: http://www.immofinanz.com
For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
[email protected]
[email protected]
19-Dec-2016 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2290
Fax: +43 (0) 1 88090 - 8290
E-mail: [email protected]
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart;
Open Market in Frankfurt ; Warschau, Wien (Amtlicher
Handel / Official Market)
End of Announcement DGAP News Service
531109 19-Dec-2016 CET/CEST