Immofinanz buys stake in CA Immobilien Anlagen for €604 mln

Immofinanz announced the acquisition of 26 bearer shares in CA Immobilien Anlagen Aktiengesellschaft (“CA Immo”). The total value of the transaction is approximately €604 million, which is intended to be funded with additional debt and the issuance of a convertible bond. Dr. Oliver Schumy, Immofinanz's CEO, said in a statement that the transaction is subject to conditions precedent, in particular merger control clearance in Austria, Germany and other jurisdictions. Immofinanz also plans to demerge or sell its Russian asset portfolio which is characterised by different market dynamics and a higher risk profile. Immofinanz Group is a real estate company listed on the leading ATX index of the Vienna Stock Exchange as well as on the Warsaw Stock Exchange.