The two real estate companies, PSP Swiss Property Ltd (PSP) and REG Real Estate Group (REG), both listed on the SWX Swiss Exchange, entered merger negotiations at the end of November 2003. Negotiations were concluded successfully with the signing of the merger agreement on 2 April 2004 after a period of reciprocal due diligence. The Board of Directors propose to the shareholders of PSP and REG a merger based on an exchange ratio of 2.19 REG shares for 1 PSP share.
The shareholders of both companies will vote on the merger at the Annual General Meetings to be held on 10 May 2004. The merger creates the by far largest listed real estate company in Switzerland. The portfolio of the “new” PSP consists of prime investment properties as well as attractive development sites, with a clear focus on office and commercial real estate located in the major Swiss economic areas.
The “new” PSP: Leading in Switzerland