from IMMOFINANZ AG (isin : AT0000809058)
EQS-Adhoc: IMMOFINANZ AG: IMMOFINANZ and CPIPG start process to evaluate further integration and potential combination
EQS-Ad-hoc: IMMOFINANZ AG / Key word(s): Real Estate/Strategic Company Decision
IMMOFINANZ AG: IMMOFINANZ and CPIPG start process to evaluate further integration and potential combination
23-Jul-2024 / 17:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad-hoc announcement
Vienna, 23 July 2024
IMMOFINANZ and CPIPG start process to evaluate
further integration and potential combination
The boards of IMMOFINANZ AG (“IMMOFINANZ”) today approved to enter a framework agreement with IMMOFINANZ’s majority shareholder CPI Property Group S.A. (“CPIPG”) holding approx. 75% of IMMOFINANZ (104,004,581 shares) to establish a joint review process to examine potential business combinations, cross-border merger or other form of integration or combination of assets, functions and key corporate entities. The objective is to optimise the group’s capital structure and capture both operating and cost efficiencies for the benefit of all shareholders.
On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused on the office and retail segments of eight core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business covers the management and development of properties, whereby IMMOFINANZ relies on its established real estate brands – STOP SHOP (retail), VIVO! (retail) and myhive (office) – and also on complementary products and portfolios that include S IMMO. IMMOFINANZ increased its investment in S IMMO to 50% plus one share at the end of 2022 and now consolidates this company in full. IMMOFINANZ Group holds more than 500 properties with a combined value of approximately EUR 8.1 billion. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://www.immofinanz.com
For additional information contact:
Simone Korbelius
Investor Relations and Corporate Communications
T +43 (0)1 88 090 2291
M +43 (0)699 1685 7291
communications@immofinanz.com
investor@immofinanz.com
1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com
End of Inside Information
23-Jul-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | IMMOFINANZ AG |
| Wienerbergstraße 9 | |
| 1100 Vienna | |
| Austria | |
| Phone: | +43 (0) 1 88090 - 2291 |
| Fax: | +43 1 88090 - 8291 |
| E-mail: | investor@immofinanz.com |
| Internet: | http://www.immofinanz.com |
| ISIN: | AT0000A21KS2 |
| WKN: | A2JN9W |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart, Tradegate Exchange; Warschau, Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1952451 |
| End of Announcement | EQS News Service |
1952451 23-Jul-2024 CET/CEST