Munich The Viennese real estate group Immofinanz is following in the takeover poker for the competitor S Immo. Immofinanz increased the purchase offer for the remaining S-Immo shares by 23 percent to 22.25 (previously 18.04) euros, as the bidder and S-Immo major shareholder announced on Thursday evening.
Immofinanz already holds 26.5 percent of S Immo in Vienna. The company would have to take up to 1.14 billion euros in hand to completely take over S Immo. Both companies have a large part of their real estate holdings in Germany.
The condition for the takeover was that Immofinanz had at least 50 percent of the shares in S Immo and that it lifted the voting right limit for all shareholders to 15 percent, the statement said. Immofinanz will make a corresponding application at the general meeting. Of course, the major shareholder had already failed with this request.
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Considerations for a merger of the mutually involved real estate companies had always failed due to the implementation. At S Immo, the financial investor recently increased Aggregate to 10.8 percent. He is also involved in Immofinanz and at the beginning of the year had his eye on the third real estate company CA Immo listed in Vienna. The Austrian Günther Walcher is behind Aggregate.
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Immofinanz strongly increases takeover offer Immo