10 05 2016

O1 Group to sale 26% stake in Austrian CA Immo to IMMOFINANZ for EUR604 million

O1 Group has signed an agreement to sale a 26% stake in Austrian CA Immo AG to IMMOFINANZ AG for approximately EUR604 million.


O1 Group has agreed to sell 25,690,163 bearer shares, EUR23.50 per share, in CA Immo to IMMOFINANZ. The transaction is subject to merger control clearance in Austria, Germany and other jurisdictions as well as approval by the supervisory board of IMMOFINANZ AG and approval of the management board of CA Immo for the transfer of the registered shares. For IMMOFINANZ the acquisition of the CA Immo stake is a first step towards its planned full combination with CA Immo by way of a statutory merger. Prior to the envisaged merger, IMMOFINANZ is planning to demerge or sell its Russian asset portfolio. O1 Group is a private holding company that focuses on strategic investments and asset management in different business areas such as real estate and finance. Among its most prominent assets is a majority ownership (more than 60%) of O1 Properties. O1 Properties is the largest Class A landlord in Moscow with over 517,500 sq. m. of rentable space and a portfolio of 14 yield-generating office assets of US$4 Billion value plus 3 development projects. IMMOFINANZ is a commercial real estate company whose activities are focused on the retail and office segments of eight core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. Clifford Chance has advised O1 Group on the sale with a team led by Moscow-based MA& partner Marc Bartholomy (picture), assisted by counsel Nick Diakoumis. Involved fees earner: Marc Bartholomy - Clifford Chance; Nick Diakoumis - Clifford Chance;

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