IVG Immobilien AG has sold its subsidiary TRIUVA to Patrizia Immobilien AG. After brief and intensive negotiations, the contractual agreements for the sale were signed on November 12. The parties agreed to maintain confidentiality with regard to details of the transaction, including the purchase price.
“TRIUVA has always successfully pursued an international growth strategy. IVG as the parent company always had the ambition to support this strategy by providing favourable conditions”, explained Dietmar P. Binkowska, CEO of IVG Immobilien AG, after the contract signing. “It is our firm conviction that TRIUVA partnership with Patrizia will boost its growth on an international level and will further accelerate the development of its funds business.”
IVG started a structured sales process for TRIUVA in May 2017. More than 60 domestic and international potential bidders expressed their interest in TRIUVA.
With the sale of TRIUVA to Patrizia, IVG’s management achieves another milestone in the realignment of the group’s business activities after the successful finalization of the insolvency proceedings in autumn 2014.
