IMMOFINANZ in discussions over the sale of the logistics portfolio – IMMOFINANZ postpones annual general meeting to December
The Executive Board and Supervisory Board of IMMOFINANZ AG today decided to sell the company‘s logistics portfolio. Negotiations with interested parties are currently in progress. IMMOFINANZ’s logistics segment covers logistics standing investments with approx. 1 million sqm of rentable space as well as various logistics development projects in Western and Eastern Europe. Most of the properties are located in Germany, while other logistics facilities are situated in Poland, Hungary, Slovakia, Romania and Russia.
The Executive Board has also informed the Supervisory Board of measures that are planned to restore the company’s structural capability to pay dividends as quickly as possible and thereby support a sustainable dividend policy. Several options are currently being examined. The goal is to simplify the corporate structure, on the one hand, and to safeguard the generation of distributable balance sheet profit, on the other hand.
A proposal covering the planned measures will be placed before the annual general meeting for voting. Since the necessary preparations are expected to take two to three months, the date for the 22nd annual general meeting of IMMOFINANZ AG will be postponed to 1 December 2015.