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.
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.Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
