Real estate investment company Aggregate Holdings S.A announced Friday that it has acquired a non-controlling minority stakes in two Austrian real estate companies, S Immo and Immofinanz.
Aggregate has acquired joint control over a 9.03% stake in S Immo AG (S Immo), the Vienna-listed real estate company focused 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).
Aggregate, the shareholder in German Adler Group SA with c.27% stake, also 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).
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”There is no certainty that any such acquisition in relation to CA Immo will proceed, nor as to the terms and conditions thereof,” said the company in a statement.
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.
