Immofinanz has successfully completed its internal reorganization process, along with selling the portfolio in Russia, at the end of 2017, and an improvement in results in the next quarters is supposed to influence future negotiations with CA Immo, to shareholders’ advantage.
Following this decision, the merger of the two groups will not take place in 2018 financial year.
Immofinanz will focus on developing operations and on the adavantages brought by the investment in CA Immo in the next months in order to create added value for shareholders. Simultaneously, it will assess new strategic opportunities, including the profit-yielding sale of the stake in CA Immo.
The properties developed in Romania by Immofinanz include, among others, Iride Business Park, Metroffice, S-Park, Victoria Park, Baneasa Airport Tower (office) and four Vivo! retail centers in Cluj-Napoca, Pitesti, Constanta and Baia Mare. CA Immo’s portfolio in Romania is worth nearly EUR300 million. CA Immo holds in capital Bucharest the projects Europe House, Bucharest Business Park, Riverplace, Opera Center I and Opera Center II.