After the failed s-Immo takeover attempt by Immofinanz, the local real estate groups could go their separate ways again. One will negotiate with Immofinanz about the dissolution of the cross-shareholding, said s-Immo company boss Bruno Ettenauer of the financial news agency Bloomberg. Immofinanz also signaled a willingness to discuss with the agency. The aim is “the best possible solution for both companies”.
S Immo currently holds a 13 percent stake in Immofinanz and Immofinanz has a 26 percent stake in s Immo. “We both have to act in the interests of our shareholders, so I am quite convinced that we will find a solution,” said s-Immo boss Ettenauer.
At the end of June, Immofinanz waived the planned majority takeover of s Immo. After the shareholders of s Immo rejected an amendment to the articles of association requested by Immofinanz at the general meeting, the takeover offer was called off.
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