Immofinanz says goodbye to CA Immo

The closing took place today, 27th September 2018, on receipt of the required anti-trust approvals. The sale price for the package totals EUR 757.9 mln. After the repayment of EUR 250 mln in loans, Immofinanz booked a net cash flow of EUR 507.9 mln,

Part of these funds have been allocated to a share buyback programme, which began on July 16th and covers a volume of up to 9.7 mln shares representing a stake of around 8.66 pct.

Over the two years of holding the CA Immo stale, Immofinanz realised a gain on sale of around EUR 184 mln (including dividends and after the deduction of ancillary costs), which represents a return on investment of around 30 pct.

Immofinanz was considering taking over its rival CA Immo, but was blocked by its shareholders.