CA Immo AG to sell stake in UBM Realitätenentwicklung AG (AT)

CA Immobilien Anlagen AG sold its shareholding in UBM Realitätenentwicklung Aktiengesellschaft of 25%, which is held indirectly by the subsidiary CA Immo International Beteiligungsverwaltungs GmbH of Vienna.
The company is thereby taking a further step towards realising a strategic focus on its core business. The buyer of the 1,500,008 bearer shares in UBM Realitätenentwicklung Aktiengesellschaft is PORR AG. The purchase price will be €36.0 million or approx. €24.00 per share, 38% above the volume weighted average price of the UBM share for the last six months prior to signing (€17.4).
Closing of the transaction, which is scheduled for 31 October 2014 at the latest, is subject to the approval of competition authorities as well as the supervisory board approval from PORR AG. Projects realised in partnership with UBM, the Poleczki Business Park in Warsaw and Airport City in St. Petersburg, will be unaffected by the transaction.
Source: CA Immo