The Polish Financial Market Authority has also approved theinformation memorandum for the share exchange in its market. Themerger has long been planned to integrate the Immofinanz-controlledImmoeast and continue a recovery of the two firms hit hard in thelast two years by a scandal at their original owner, ConstantiaBank, and the global economic crisis. With the merger, trading ofImmoeast shares on the Vienna Stock Exchange will cease and anapplication for cessation on the Warsaw Stock Exchange will also bemade.

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The merger entails a Immofinanz capital increase of $785 millionthrough the issuance of 567 million in stock to shareholders ofImmoeast. The share exchange - three Immofinanz shares for twoImmoeast – takes effect on the merger date.

AllanSaundersonis a managing editor of PropertyInvestor Europe and a contributor to GlobeSt.com.

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