IMMOFINANZ announces voluntary partial offer for CA Immobilien Anlagen AG (EU)

The Executive Board and Supervisory Board of IMMOFINANZ AG decided today to make a voluntary partial public offer (in accordance with the Austrian Takeover Act) for the purchase of a minority interest of up to 29% of the outstanding share capital in CA Immobilien Anlagen AG (“CA Immo”).
Based on the current share capital of CA Immo, that represents up to approx. 28.7 million CA Immo shares. The price offered per CA Immo share will equal €18.50. That not only reflects the level paid by O1 Group Limited for 26% of CA Immo (through the purchase of shares from UniCredit Bank Austria AG and through a voluntary partial public offer), but is also approx. 6%, or €1, higher than the closing share price on the Vienna Stock Exchange on Friday, 20 March 2015.
“We expressed our interest in this smaller competitor during the previous year when UniCredit sold its investment in CA Immo, and I can now only repeat the reasons stated at that time: CA Immo fits well with IMMOFINANZ in regard to its core countries and asset classes, and our long-standing experience in Central and Eastern Europe would allow us to support the management in realizing their planned course for further expansion in these countries“, indicated IMMOFINANZ CEO Eduard Zehetner.
IMMOFINANZ had liquid funds totalling EUR 627.2 million at the end of January 2015, which will increase further following the sale of assets during the final quarter of the current financial year. The offer for the purchase of a 29% interest in CA Immo, i.e. approx. 28.7 million shares based on the outstanding share capital, would only require an investment of approx. €530 million.

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