IMMOFINANZ sells 18.5 million BUWOG shares to the strategic investor SAPINDA
IMMOFINANZ today sold approx. 18.5 million BUWOG shares to SAPINDA Group, a company located in Amsterdam, London and Luxembourg. The price of EUR 19.00 per share – for a total of approx. EUR 352 million – is 3.5% higher than yesterday’s closing price of EUR 18.36.
“This step completes the sale of our freely disposable BUWOG shares, in line with our previously announced plans“, commented IMMOFINANZ-CEO Oliver Schumy on the transaction. “The proceeds from the sale will be used to finance the acquisition of a 26% stake in CA Immobilien Anlagen AG.”
The sale reduces the BUWOG shares held by IMMOFINANZ by approx. 18.5 percentage points to roughly 10%. The approx. 10 million remaining BUWOG shares are intended to proportionally service the convertible bonds issued by IMMOFINANZ.