DGAP-News: IMMOFINANZ Group sells Grand Hotel in St. Moritz
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal
IMMOFINANZ Group sells Grand Hotel in St. Moritz
18.02.2013 / 12:35
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Press Release | Corporate News
Vienna, 18 February 2013
IMMOFINANZ Group sells Grand Hotel in St. Moritz
IMMOFINANZ Group has signed a purchase contract for 100% of the shares in
the Swiss Les Bains de St. Moritz Holding AG, the owner of the Kempinski
Grand Hotel des Bains, and is hereby continuing its exit from the non-core
hotel segment. The transaction took place in excess of the property's
carrying amount and is expected to close in March 2013. The buyer is an
international investor, and the parties have agreed not to reveal any
further details.
'The exit from secondary markets and the asset class hotel is part of our
corporate strategy - of course, when the price is attractive', indicates
Eduard Zehetner, CEO of IMMOFINANZ Group. 'The successful sales finalised
in recent weeks are increasing the turnover of our portfolio, and we are
even exceeding our five-year sales programme.'
This property is located in the fashionable Swiss ski resort St. Moritz and
comprises a five-star hotel that is operated by Kempinski and the exclusive
Kempinski Hotel Residences as well as various annexes. The net usable space
totals approx. 34,000 sqm. The Kempinski Grand Hotel des Bains has 184
rooms and suites.
'The transaction is a win-win situation for both the buyer and the seller.
The future owner is pursuing a long-term strategy for the location and use,
which already includes the active involvement of the local management team
in St. Moritz', explains Raimund Kirchleitner, CEO of the Swiss property
and management corporation that is part of the sale.
The sale of this property represents the continuation of IMMOFINANZ Group's
strategy to divest properties whose use, size, location and/or quality do
not fit in with the target portfolio. The Group withdrew completely from
Bosnia-Herzegovina in May 2012, and the last property in France was sold a
short time ago. The Group remains on the Swiss market with four logistics
properties held by its wholly owned subsidiary Deutsche Lagerhaus. The
eight core markets of IMMOFINANZ Group are Austria, Germany, Czech
Republic, Slovakia, Hungary, Romania, Poland and Russia.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe
and is included in the leading ATX index of the Vienna Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,820 investment properties
with a carrying amount of approx. EUR 10.51 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. The company's goal is to generate greater
profitability along the entire value change with a clearly defined,
standardised and industrialised process. IMMOFINANZ Group concentrates its
activities in the retail, office, logistics and residential segments of
eight regional core markets: Austria, Germany, Czech Republic, Slovakia,
Hungary, Romania, Poland and Russia. Further information under:
www.immofinanz.com
For additional information please contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43(0)699 1685 7290
communications(at)immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance&Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor(at)immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
End of Corporate News
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18.02.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor(at)immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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