Ansprechpartner: Elisabeth Wagerer
Tel.: +43 1 22795-1120
Business news for the stock market

S IMMO AG: S IMMO AG intends to launch an attractive partial offer to shareholders of IMMOFINANZ AG

Vienna (pta022/06.12.2021/10:50) - The Management Board and Supervisory Board of S IMMO AG have decided to increase its stake in IMMOFINANZ AG ("IMMOFINANZ") and to launch a voluntary partial offer for approximately 10% of the share capital of IMMOFINANZ. The price shall amount to EUR 23.00 representing a premium of 7.7% to the last closing price of the IMMOFINANZ share on Friday, 03 December 2021, and a premium of 12.7% over 6-month VWAP.

The offer is made in the context of the anticipatory mandatory offer announced by CPI Property Group ("CPI") on 03 December 2021 that provides for an offer price of only EUR 21.20 per share, the minimum price required by law. The successful partial offer is likely to strengthen and protect interests of S IMMO and IMMOFINANZ shareholders, at the same time providing for an attractive liquidity opportunity for IMMOFINANZ shareholders at a premium. Given the favourable share price development of the IMMOFINANZ share in the last year, we consider the offer price compelling and attractive for many of its shareholders.

Bruno Ettenauer, CEO of S IMMO AG, comments: "The price per IMMOFINANZ share offered by CPI for control is not adequate. We as a major shareholder will therefore not tender into this offer. Against the background of CPI having already acquired a large stake in IMMOFINANZ the expansion of our currently 14.2% stake in IMMOFINANZ is for the time being the best way to enhance and protect the value of S IMMO and its share. We continue to believe that ultimately the unwinding of the cross shareholding between IMMOFINANZ and S IMMO is warranted. However, the offer of CPI does not represent an opportunity to achieve this strategic goal on acceptable terms for S IMMO shareholders but rather requires an increase in our stake in IMMOFINANZ to be able to pursue that strategic goal further. We are convinced that this does not prevent but promotes favourable solutions for all stake- and shareholders involved."

emitter: S IMMO AG
Friedrichstraße 10
1010 Wien
contact person: Elisabeth Wagerer
phone: +43 1 22795-1120
stock exchanges: official trade in Vienna
ISIN(s): AT0000652250 (share)
98.731 Abonnenten
201.810 Meldungen
83.493 Pressefotos


10.08.2022 - 06:05 | pressetext.redaktion
09.08.2022 - 15:30 | Financial Planning Standards Board Deutschland e.V.
09.08.2022 - 12:38 | pressetext.redaktion
09.08.2022 - 12:20 | SRH AlsterResearch AG
09.08.2022 - 12:10 | SRH AlsterResearch AG