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Immofinanz interested in UniCredit's CA Immo stake
July 14, 2014 / 8:23 AM / 3 years ago

Immofinanz interested in UniCredit's CA Immo stake

VIENNA, July 14 (Reuters) - Austrian real-estate company Immofinanz is interested in buying UniCredit’s 16.8 percent stake in peer CA Immobilien, Immofinanz’s chief executive said.

“What CA immo has would fit us well. They are in the same geographies as us, in the same asset classes, and it would be a good extension of our portfolio,” Eduard Zehetner told Reuters by telephone on Monday.

CA Immo said earlier that UniCredit, its biggest shareholder, was considering selling its stake, which is worth about 230 million euros ($314 million) according to CA Immo’s current market capitalisation.

Zehetner declined to say whether negotiations had already begun but said Immofinanz was in contact with UniCredit.

$1 = 0.7331 Euros Reporting by Georgina Prodhan; editing by Jason Neely

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