Intershop Holding AG intends to acquire stake in CORESTATE Capital AG, based in the Swiss town of Zug, with approximately €20 million within the framework of a capital increase as well as the purchase of existing shares and participation certificates. The capital increase will help to fund the ongoing expansion of CORESTATE Group.
Comment by Ralph Winter, Founder of CORESTATE Capital AG: "The expansion of our equity base is a sign for the consistent implementation of our growth strategy. Looking forward, the CORESTATE Group will in addition to its opportunistic approach also focus on core investments and those generating value-add returns. In Intershop Holding AG, we have now gained an institutional partner who wishes to join us in realizing opportunities of the German real estate market.”
Source: Business Network