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CPI Europe AG — M&A Activity 2018
Feb 28, 2018
746_iss_2018-02-28_c78b9dad-92d5-445d-80c5-01768380bd07.pdf
M&A Activity
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DGAP-Ad-hoc: IMMOFINANZAG/ Keyword(s):Real Estate/Miscellaneous
IMMOFINANZ:Discussions on the merger with CAImmo remain suspended for the time being - other strategic options are under evaluation, including the sale of the CAImmo shares
28-Feb-2018 / 13:28 CET/CEST
Disclosure of an inside information acc. toArticle 17 MARof the Regulation (EU) No 596/2014, transmitted byDGAP- a service of EQS GroupAG.
The issuer is solelyresponsible for the content of this announcement.
The SupervisoryBoardandExecutive Boardof IMMOFINANZAGtodaydecidedtocontinue the suspensionof detaileddiscussions over a possible merger betweenCAImmobilienAnlagenAG(CAImmo) andIMMOFINANZ for the time beingandtoalsoevaluate other strategic options.
Following the successful conclusion of IMMOFINANZ's multi-year reorganisation with the sale of the Russian portfolio shortlybefore the end of 2017, the expected improvement in corporate indicators during the coming quarters should be incorporated as best as possible in potential future negotiations with CAImmo for the benefit of shareholders. The possible merger of the two companies during the 2018 financial year is therefore no longer expected from the current point of view.
IMMOFINANZintends to concentrate on further strengthening its operating development and on the benefits of its investment in CAImmo during the coming months in order to create added value for its shareholders. Independent of the possibilityof a merger, activities will also include the evaluation of further strategic options - among others, the possible profitable sale of the CAImmo investment.
OnIMMOFINANZ
IMMOFINANZis a commercial real estate group whose activities are focused on the retail and office segments of seven core markets in Europe: Austria,Germany,Czech Republic, Slovakia,Hungary,Romania and Poland. The core business covers the management and development of properties,whereby the STOPSHOP(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. EUR4.2 billion and covers more than 250 properties. IMMOFINANZis listed on the stock exchanges in Vienna (leading ATXindex) and Warsaw. Further information under: http:/www.immofinanz.com
For additional informationcontact:
Bettina Schragl Head ofCorporate Communications and Investor Relations T+43 (0)1 88 090 2290 M+43 (0)699 1685 7290 [email protected] [email protected]
28-Feb-2018 CET/CESTThe DGAPDistribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases. Archive atwww.dgap.de
| Language: | English |
|---|---|
| Company: | IMMOFINANZAG |
| 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, Frankfurt, Munich, Stuttgart; Warschau, Wien (Amtlicher Handel /Official Market) |
End ofAnnouncement DGAPNews Service