Aggregate Holdings S.A.: Acquisition of minority stakes in S IMMO and IMMOFINANZ
Aggregate Holdings S.A.: Acquisition of minority stakes in S IMMO and IMMOFINANZ
Luxembourg, 29 January 2021
Aggregate Holdings S.A. (“Aggregate”), the Germany-focussed property investment company, today announces that it has acquired non-controlling minority stakes in two listed Austrian real estate companies with significant exposure to Germany and the DACH region, in line with Aggregate’s stated strategy of acquiring undervalued real estate assets privately or through the public markets.
Aggregate has acquired joint control over a 9.03% stake in S IMMO AG (“S IMMO”), the Vienna-listed real estate company focussed on capital cities across Germany and Austria. The S IMMO portfolio comprises of c.70% commercial properties and c.30% residential properties, with c.70% of the portfolio located in Germany. Additionally, S IMMO has a c.6% strategic minority stake in CA Immobilien Anlagen AG (“CA Immo”). As publicly stated on 20 January 2021, Aggregate confirmed that it may be considering a potential acquisition of a stake in CA Immo, which may also include launching a partial takeover offer for shares in CA Immo in accordance with the provisions of the Austrian Takeover Act (ÜbG). There is no certainty that any such acquisition in relation to CA Immo will proceed, nor as to the terms and conditions thereof.
Simultaneously, Aggregate has also acquired joint control over a 10.54% stake in IMMOFINANZ AG (“IMMOFINANZ”), the Vienna-listed real estate company focussed on major office locations in Germany and capital cities in Central and Eastern Europe. Office properties account for c.60% of the portfolio, with retail properties accounting for the remaining portion of the portfolio. The transaction is subject to approvals which are customary in these types of transactions.
These investments in S IMMO and IMMOFINANZ demonstrate Aggregate’s long-term strategic commitment towards two significantly undervalued and high-quality real estate businesses as well as its long-term commitment to all their stakeholders and to Austria.
Contact
Benjamin Lee, Group Chief Financial Officer
Tel : +352 20 30 14 60
Mob : +44 7415 121218
b.lee@aggregateholdings.com
About Aggregate Holdings
Aggregate Holdings SA (“Aggregate”) is a predominantly German-focussed real estate investment company, with interests also in Portugal. The company has c.€4.0bn of assets and a c.€7.0bn gross development value project portfolio. Among some of its assets, Aggregate owns Quartier Heidestrasse, the largest mixed use real estate development project in Central Berlin with c.300,000 sqm of gross construction area, due to be completed by 2023, and to be held long-term for yielding purposes. Additionally, Aggregate also owns VIC Properties, the largest real estate developer in Portugal, with c.600,000 sqm of gross construction area and c.€2.4bn gross development value. Lastly, Aggregate controls a strategic stake of c.27% in Adler Group SA, one Europe’s largest residential players with c.€14.6bn of assets, among other investments.