Press Release | Corporate News
Vienna, 12 December 2024
IMMOFINANZ AG has successfully completed the squeeze-out of the minority shareholders of S IMMO AG. The squeeze-out became legally effective with the entry into the commercial register as of 3 December. All shares of the minority shareholders have thus been transferred to IMMOFINANZ. The trading of S IMMO shares on the stock exchange has been terminated.
S IMMO shareholders have received a cash compensation of EUR 22.05 per share, which was transferred automatically to their account by their custodian bank as of 11 December, including accrued interest.
“With the completion of the squeeze-out, we now hold 100% of the shares in our subsidiary S IMMO. We are thus taking another step towards optimising our Group structure and reducing costs. At the same time, we are strengthening our strategic orientation and creating flexibility for future investments,” says Pavel Měchura, member of the Executive Board of IMMOFINANZ.
Focus on value-creating growth and strategic sales
IMMOFINANZ Group concentrates on its core business as a growth-oriented property owner of a high-quality real estate portfolio focusing on office and retail properties in its core markets in Europe. The Group primarily focuses on flexible and innovative real estate offers with strong customer orientation and the continuous optimisation of its portfolio. Active portfolio management further includes strategic property sales, which provide the basis for continued successful growth.
A robust financial policy, which aims to ensure sufficient liquidity, a balanced capital structure with a balanced maturity profile and optimised financing costs at all times, constitutes another cornerstone of the strategy.
The Group-wide ESG strategy, which was adopted in 2023, will be consistently implemented in the future. In addition to ecological sustainability, it also encompasses social aspects and good corporate governance, coupled with solid and specific targets and milestones.
On IMMOFINANZ
IMMOFINANZ Group 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. IMMOFINANZ Group holds roughly 470 properties with a combined value of approximately EUR 8.0 billion. The company is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://immofinanz.com
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Editor's note:
The appropriateness of the cash compensation offered to S IMMO's minority shareholders will be reviewed in a review procedure (comparable to a German appraisal procedure). Further information: kanzlei@anlageanwalt.de
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