Immofinanz suspends merger talks with CA Immo
The supervisory and executive boards of commercial real estate company Immofinanz AG decided Wednesday to continue to suspend detailed discussions over a possible merger with CA Immobilien Anlagen AG (CA Immo) for the time being and to also evaluate other strategic options.
According to a press release sent to the Budapest Business Journal, following the successful conclusion of Immofinanz‘s multi-year reorganization with the sale of the Russian portfolio shortly before 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 CA Immo 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, the press release added.
Immofinanz intends to concentrate on further strengthening its operating development and on the benefits of its investment in CA Immo during the coming months in order to create added value for its shareholders, the press release continued. Independent of the possibility of a merger, activities will also include the evaluation of further strategic options – among others, the possible profitable sale of the CA Immo investment, it added.
Immofinanz is a commercial real estate group whose activities are focused on the retail and office segments of seven core markets in Europe: Austria, Germany, the Czech Republic, Slovakia, Hungary, Romania and Poland. The real estate portfolio has a value of approx. EUR 4.2 billion and covers more than 250 properties.
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