Peach Property Group AG — M&A Activity 2013

Apr 10, 2013

News Details

Ad-hoc | 10 April 2013 07:02

Peach Property Group AG acquires Primogon AG; Renzo Fagetti appointed Managing Director for Switzerland

Peach Property Group AG / Key word(s): Acquisition/Change of Personnel

10.04.2013 07:02

Release of an ad hoc announcement pursuant to Art. 53 KR

Press release

Peach Property Group AG acquires Primogon AG; Renzo Fagetti appointed
Managing Director for Switzerland

• Acquisition of Swiss development service provider Primogon AG effective
  retroactively to 1 January 2013

• Expansion of consultancy business to reinforce market position

• Access to additional attractive projects

• Expansion of Peach Property Group management

Zurich, 10 April 2013 - Peach Property Group AG, a leading developer of
top-quality residential properties in the German-speaking region of Europe,
is expanding its business providing development services to outside clients
through the acquisition of the development service provider Primogon AG.

This is an important step in further strengthening Peach Property Group's
market position and offering significant value-added to institutional
clients in Switzerland by providing a full range of services. In addition,
the executive management of Peach Property Group in Switzerland is being
reinforced and operational responsibilities in project implementation
reorganised.

Peach Property Group is acquiring 100 per cent of the shares of Swiss
development service provider Primogon AG effective retroactively to 1
January 2013. The Zurich-based company was established in 2001 and offers a
full range of property development services, including identifying market
potential, market analysis, providing development project solutions, sales
and marketing, and building contractor representation. This enables clients
to sustainably increase the value of properties and land that is unused or
not used to their full potential and develop them into attractive
investment properties. Primogon's clients include top institutional
property investors as well as land and property owners. In recent times the
company has developed large-scale projects for Swiss investors with total
investments of approximately CHF 720 million in the past five years alone.
Similar to Peach Property Group, it focuses on the residential market.

By acquiring Primogon AG, Peach Property Group AG aims to expand its range
of development services and obtain access to additional attractive
projects. Going forward, Primogon AG and its expert team of three proven
specialists will operate under the 'Primogon - Member of the Peach Property
Group' brand. Both parties agreed not to disclose the purchase price.

The company is reinforcing its management team in the wake of this
acquisition to promote the growth and expansion plans of Peach Property
Group. From 1 May 2013, the founder and main shareholder to date of
Primogon AG, Renzo Fagetti (57), will be responsible for all of Peach
Property Group AG's project development, implementation and property
management activities in Switzerland. Fagetti has many years of experience
in property development and also possesses excellent knowledge of the
market and a broad network of contacts. Among other positions, he was
employed by ABB Immobilien AG for ten years and, as Managing Director and
member of the Board of Directors, he was tasked with managing and
developing ABB's property portfolio in Switzerland. He managed two of the
largest urban development projects in Switzerland at the time, namely
Baden-Nord and Zentrum Zurich-Nord. Under his leadership, ABB Immobilien AG
developed and sold property investments worth a total of CHF 4 billion.

According to Dr. Thomas Wolfensberger, CEO of Peach Property Group, 'The
acquisition of Primogon AG opens up further growth potential for Peach
Property Group in Switzerland. We were also able to bring Renzo Fagetti, a
very experienced Swiss property expert and capable leader, on board our
executive management, bolster our services for the long term, and provide
our clients with a more comprehensive range of services.'

Photo Renzo Fagetti:

http://www.peachproperty.com/wp-content/uploads/2013/04/Renzo-Fagetti.jpg

Contacts:

Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
+41 44 485 50 00 | investors@peachproperty.com

Media Germany
Edicto GmbH, Axel Mühlhaus
+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

About Peach Property Group
Peach Property Group AG is a leading developer in the field of top-quality
residential property in the German-speaking region of Europe. Its
activities cover the entire prime property development value chain, from
site evaluation to project planning, implementation and marketing. Peach
Property Group focuses on city and holiday residences in exceptional
locations and featuring the highest-quality fittings for a discerning
clientele. The company's integrated corporate strategy encompasses not only
the development of high-quality residential properties, but also the
management of investment properties for the purpose of generating
consistent annual operating income.

Peach Property Group AG is headquartered in Zurich and also has a branch
office in Cologne. The company is listed on the SIX Swiss Exchange (PEAN,
ISIN CH0118530366).

Visit www.peachproperty.com for more information.

10.04.2013 News transmitted by EquityStory AG.
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Language: English
Company: Peach Property Group AG
Seestrasse 346
8038 Zürich
Switzerland
Phone: +41 44 485 50 00
Fax: +41 44 485 50 11
E-mail: investors@peachproperty.com
Internet: www.peachproperty.com
ISIN: CH0118530366
Swiss Security Number: A1C8PJ
Listed: Freiverkehr in Berlin, Stuttgart; Frankfurt in Open
Market ; SIX

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