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Immofinanz AG (IMFI.VI)

IMFI.VI on Vienna Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Immofinanz resolves share buyback programme 1/2017
Tuesday, 14 Mar 2017 07:46am EDT 

Immofinanz AG : Immofinanz resolves share buyback programme 1/2017 . Repurchases of shares in course of share buyback programme 1/2017 will be carried out by Immofinanz AG or one of its subsidiaries. Volume amounts up to a maximum of 20 million shares .Repurchase is expected to start at earliest on March 20, 2017.  Full Article

Immofinanz says earned 97.4 mln euros from Buwog stake sale
Wednesday, 1 Feb 2017 06:55pm EST 

Immofinanz : Announces the successful placement of approx. 4.5 million ordinary shares in Buwog AG . The placing shares represent approximately 4.5% of the company's issued share capital . The transaction generated total net proceeds to Immofinanz of approximately 97.4 million euros . The transaction is expected to settle on 6 February, 2017 . Following settlement of the transaction, Immofinanz will hold approximately 4.7 million ordinary shares in the company which serve as underlying for the convertible bonds 2017 and 2018 Further company coverage: [IMFI.VI] ((vienna.newsroom@thomsonreuters.com)).  Full Article

Immofinanz sells Friesenquartier and second section of Gerling Quartier in Cologne
Tuesday, 31 Jan 2017 07:47am EST 

Immofinanz Ag : Sells Friesenquartier and second section of Gerling Quartier in Cologne to Quantum and Proximus - Germany remains most important growth market in office sector . Parties have agreed not to disclose any information on purchase price because of ongoing negotiations, which are expected to be concluded during Q1 of 2017 . Details on entire transaction will be announced at that time . Closing is expected to take place in Q2 of 2017 for sale of friesenquartier and in 2018 for forward purchase. .Buyer is a joint venture by German companies Quantum Immobilien Ag and Proximus Real Estate Ag.  Full Article

Immofinanz confirms successful placement of its 2 pct convertible bonds 2024
Friday, 20 Jan 2017 05:19am EST 

Immofinanz AG : Confirms the successful placement of its 2 percent convertible bonds 2024 with a final issue volume of 297.2 million euros and announces an acceptance quota of 43.4 percent with respect to the incentiviced conversion invitation of its outstanding 4.25 percent 515.1 million euro convertible bonds 2018 . Announces an acceptance quota of 43.4 percent with respect to incentiviced conversion invitation of its outstanding 4.25 percent 515.1 million euro convertible bonds 2018 . Outstanding volume of 4.25 percent convertible bonds 2018 will be reduced to 287.3 million euros ($305.57 million) .No claw back in relation to 2 percent convertible bonds 2024.  Full Article

Immofinanz makes conversion offer to bondholders, plans new issue
Thursday, 12 Jan 2017 12:30pm EST 

Immofinanz : Launches an incentivized conversion invitation to holders of its eur 515.1 million convertible bonds due 2018 and an offering to institutional investors of convertible bonds due 2024 for eur 200 million . Announces the launch of an invitation to the holders of its eur 515.1 million 4.25% senior unsecured convertible bonds due 2018 to convert such outstanding bonds into ordinary shares of Immofinanz and into ordinary shares of BUWOG or a respective cash settlement for BUWOG shares . Intends to accept offers for up to 45% of nominal amount of outstanding bonds and reserves right to increases this acceptance quota further . Conversion offer is intended to allow Immofinanz to further optimize and simplify its capital structure, improve long term financing costs and to reduce overall amount of debt . Concurrently announces offering to institutional investors of new convertible bonds for up to eur 200 million convertible into Immofinanz shares Further company coverage: [IMFI.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 531 12 258;)).  Full Article

Immofinanz CEO: sale of Russia portfolio more elegant than spin-off
Tuesday, 20 Dec 2016 05:06am EST 

Immofinanz Ag : Immofinanz CEO says delay in sale or spin-off of Russia portfolio due to higher oil price, future of US-Russia relations, stronger rouble, fresh tenancy deals, which will bring occupancy rate up to ca. 90 pct in abbreviated FY 2016 . Immofinanz CEO says sale of Russia portfolio would be faster, more elegant than spin off . Immofinanz CEO says has long list of interested parties in Russia portfolio . Immofinanz CEO says interested parties in Russia portfolio not just from Russia . Immofinanz CFO says gross book value of Russia portfolio 1.07 billion eur, incl. 650 million eur debt Further company coverage: [IMFI.VI] (Reporting By Shadia Nasralla) ((Shadia.Nasralla@thomsonreuters.com;)).  Full Article

CA Immo says Q2 FFO I 22.9 mln eur, slightly better than expected
Wednesday, 24 Aug 2016 01:29pm EDT 

CA Immo : Net rental income increase by 19.2% to eur 72.1 m . FFO I per share at eur 0.46 up 21% yoy (2015: eur 0.38 per share) . FFO I, reported before taxes and adjusted for sales result and other non-permanent effects, totalled eur 43.8 m after first six months of 2016 (eur 37.7 m in 2015) . We hereby confirm an annual target for long-term revenue of a 10% increase in FFO I per share compared to previous year . Current share buyback programme will be continued, with current target for number of own shares acquired amounting to five million in second half of year . Spokeswoman says Q2 FFO I 22.9 million eur (average forecast in Reuters poll: 20.9 million eur) . In the second six months we will introduce key growth-promoting measures aimed at steadily raising the sustainable earnings of CA Immo over the long term . As regards the possible merger with Immofinanz, we are well prepared for negotiations. We will carefully examine the pros and cons of such a transaction in the interests of our shareholders. Further company coverage: [CAIV.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 531 12 258;)).  Full Article

Immofinanz says plans to sell 1 bln eur in assets in mid term
Thursday, 28 Jul 2016 04:17am EDT 

Immofinanz : Says plans in mid term to sell assets worth 1 billion eur, includes 560 million in office assets, 320 million in retail, money to be used for development and portfolio growth . Says will take 12-18 months from closing of CA Immo stake acquisition for shareholders to decide about merger Further company coverage: [IMFI.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 531 12 258;)).  Full Article

CA Immobilien Anlagen: executive board approves transfer of shares to Immofinanz
Wednesday, 27 Jul 2016 12:25pm EDT 

CA Immobilien Anlagen AG : Executive board approves transfer of 4 registered shares to Immofinanz AG .Management board also decided to mandate J.P. Morgan and Ithuba Capital as financial advisors for potential merger with Immofinanz.  Full Article

Immofinanz sells 18.5 mln Buwog shares to SAPINDA
Thursday, 9 Jun 2016 02:17am EDT 

Immofinanz AG : Sells 18.5 million Buwog shares to the strategic investor SAPINDA . Price of 19.00 euros ($21.65) per share - for a total of approx. 352 million euros - is 3.5 pct higher than Wednesday's closing price of 18.36 euros . Proceeds from sale will be used to finance acquisition of a 26 pct stake in CA Immobilien Anlagen AG . Sale reduces Buwog shares held by Immofinanz by approx. 18.5 percentage points to roughly 10 pct .Approx. 10 million remaining Buwog shares are intended to proportionally service convertible bonds issued by Immofinanz.  Full Article

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