Immofinanz acquires 26% of CA Immo



Immofinanz, a major player in the Hungarian real estate market and the greater region, paid €604 million for a 26% share of CA Immo, which is also big in the Hungarian market and CEE, according to a press release issued today. The deal “creates the basis” for a merger that would yield “one of the leading property groups in Europe”, the Immofinanz CEO said.

Haller Gardens in Budapest, a property handled by Immofinanz Hungary.

“Their portfolios complement each other extremely well, and we are expecting significant synergies and an increase in the attractiveness of the combined group for the capital market – and that will benefit the shareholders of both companies,” said Oliver Schumy, CEO of Immofinanz. “We met all conditions in the shortest possible period of time and obtained the necessary approvals from the antitrust authorities in six countries.”

Immofinanz announced it had completed the purchase by buying 25,690,163 bearer shares of CA Immobilien Anlagen AG from Terim Limited and four registered shares of CA Immo from O1 Group Limited, according to the press release.

Properties of Immofinanz in Hungary had a carrying amount of €476.1 million in the past financial year, representing 8.7% of the company’s total portfolio, the company said yesterday.


Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.