Competition Council analyses S Immo takeover by Immofinanz

Newsroom 11/07/2018 | 08:10

The Competition Council has announced that it is analyze the transaction by which the Austrian real estate developer Immofinanz intends to take control of other Austrian real estate developer, S Immo, both present on Romanian market.

Immofinanz signed an act in April to buy 29.1 percent of S Immo’s shares in a deal of about EUR 390 million euros. Immofinanz owns more than 240 properties in Austria, Germany, the Czech Republic, Slovakia, Hungary, Romania and Poland, and the total value of its portofolio is around EUR 4.1 billion.

The real estate investment company is listed on the Vienna Stock Exchange and in Warsaw.

In Romania, Immofinanz’s retail portfolio includes four Vivo! Shopping centers in Cluj-Napoca, Constanta, Baia Mare and Pitesti, which are currently fully occupied and have a total rental area of 147,000 square meters, and more office portofolio.

S Immo owns Sun Plaza Mall, Novotel Hotel, Sun Offices and The Mark office building, still in development.