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| How exactly will the acquisition of Constantia Privatbank's real estate division proceed and what will be IMMFOFINANZ's future corporate structure? |
All subsidiaries, departments and business areas belonging to Constantia Privatbank's real estate division were demerged to form a new holding company with the name I&I Real Estate Asset Management AG (I&I).
I&I will – provided approval is given at the extraordinary general meeting – be purchased by the IMMOFINANZ group. IMMOFINANZ will acquire a 40 percent stake and IMMOEAST a 60 percent stake.
I&I will thus become a joint subsidiary of both IMMOFINANZ and IMMOEAST. It will continue to handle the management contracts for IMMOFINANZ and IMMOEAST's real estate portfolios. Earnings from the management contracts will thus be distributed directly to the two companies.
Furthermore, the other business areas acquired from Constantia Privatbank will continue to be structured within I&I. The earnings from these profitable business activities will thus be distributed amongst IMMOFINANZ and IMMOEAST. |
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