The Züblin Group has sold three properties in Switzerland to Swiss Life, two on Talstrasse in Zurich, as well as the property in Zollikofen which has been completely renovated over the last two years. Züblin sold these properties at a price above the IFRS market value as of 31 March 2013.
With this transaction the Company has taken advantage of continued buoyant property prices in Switzerland to strengthen its equity ratio and increase its financial leeway for future commitments.
Since the financial year-end on 31 March 2013 Züblin has also disposed of two additional non-strategic properties both in Germany and the Netherlands at the value stated in the balance sheet as of 31 March 2013.
The total value of these transactions is CHF 184 million (approx. €148.7 million).
Source: Zueblin
