Immofinanz sells 18.5 million BUWOG shares – EuropaProperty

Immofinanz has sold 18.5 million BUWOG shares to SAPINDA Group, a company located in Amsterdam, London and Luxembourg. The price of €19.00 per share – for a total of €352 million – is 3.5 percent higher than the closing price of €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 percent stake in CA Immobilien Anlagen AG.”

The sale reduces the BUWOG shares held by Immofinanz by approx. 18.5 percentage points to roughly 10 percent. The approx. 10 million remaining BUWOG shares are intended to proportionally service the convertible bonds issued by Immofinanz.