Züblin Immobilien Holding and the UK listed and domiciled property investment company CLS Holdings have closed the transaction including all twelve German properties with an underlying gross asset value of €152m. Eleven properties were sold in a share deal, i.e. via the sale of two existing Züblin subsidiaries. One property was sold via a direct purchase. Altogether the company has cleared €56m from the transaction.
Dr. Iosif Bakaleynik, Chairman and CEO comments: “The successful completion of this transaction enabled Züblin to realize value at a very attractive level. It also opens opportunities to grow the company and to create shareholder value by reinvesting available funds into carefully selected assets.”
