PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Immofinanz, Immoeast set shareholder merger meetings
The management and supervisory boards of allied Austrian property groups Immofinanz and Immoeast, in the process of emerging from 24 months of financial turmoil, have taken the decision to merge to establish "a strong, unified and leading real estate property company in central and eastern Europe and Germany". Subject to approval by shareholders on 20 January, the merger will take effect retroactively from 30 April 2009. Requiring shareholder approval of both companies with a majority of 75% of votes, the exchange ratio offered for the 45.638% minority shareholders of Immoeast - ie equity not already held by Immofinanz - will be three Immofinanz shares for two of Immoeast. (See upcoming PIE/PFE editions for full story)