Immofinanz has revealed that it has entered into an agreement to acquire over 25 million ordinary shares in CA Immobilien, which represents 26 percent of that company’s share capital and voting rights, from O1 Group Limited and Terim Limited. The move would appear to signal the beginning of a merger process between the two companies. Immofinanz would gain four registered shares through the deal as well, shares which entitle their holders to delegate one member to CA Immo’s supervisory board. “IMMOFINANZ has proposed that the acquisition of the CA Immo stake is a first step towards a planned full combination of IMMOFINANZ and CA Immo by way of a statutory merger,” wrote the company in a statement.
Dr. Oliver Schumy, CEO of Immofinanz, said that his company’s decision to sell off its Russian asset portfolio had helped clear the way for the merger, as the combined group would have a clear focus on Central and Eastern Europe. “The portfolios of both companies are very complimentary and we expect significant synergies from the transaction,” he said.
In the Czech Republic, Immofinanz owns properties such as Pankrac House, Prague Office Park 1 & 2, and the Airport Business Center.
