Brief: Immofinanz Announces Strategy Update

CPI Europe AG

24/06/2022 09:50

June 24 (Reuters) - IMMOFINANZ AG  IMFI.VI :
    * IMMOFINANZ ANNOUNCES STRATEGY UPDATE
    * IS PRESENTING AN UPDATED STRATEGY FOLLOWING MAJORITY
TAKEOVER BY
CPI PROPERTY GROUP
    * COMPANY PLANS TO CONTINUE ITS VALUE-CREATING GROWTH
STRATEGY
WITH A STRONG FOCUS ON RETAIL PROPERTIES AND OFFICE SOLUTIONS
    * AS PART OF AN ACTIVE PORTFOLIO MANAGEMENT, PROPERTIES WITH
A
VALUE OF APPROXIMATELY EUR 1 BILLION WILL BE SOLD AND PROCEEDS
INVESTED IN HIGHER YIELDING ASSETS
    * AS PART OF AN ACTIVE PORTFOLIO MANAGEMENT, PROPERTIES WITH
A
VALUE OF APPROXIMATELY EUR 1 BILLION WILL BE SOLD AND PROCEEDS
INVESTED IN HIGHER YIELDING ASSETS
    * SALES PROCEEDS WILL BE INVESTED IN HIGHER-YIELDING RETAIL
AND
OFFICE PROPERTIES IN CORE MARKETS OF COMPANY OR USED TO REPAY
DEBT
    * EXPECTS TO ANNOUNCE A MORE DETAILED GUIDANCE ON EXPECTED
DEVELOPMENT OF BUSINESS IN FINANCIAL YEAR 2022 IN SECOND HALF OF
THIS YEAR
    * SUCCESSFUL COURSE OF COMPANY WILL BE CONTINUED ON
IMMOFINANZ'S
ROBUST FINANCIAL BASE TOGETHER WITH STRENGTHENING OF ESG
ACTIVITIES
    * IMMOFINANZ WILL BENEFIT IN PURSUING THIS STRATEGY FROM
CLOSE
COOPERATION WITH CPI PROPERTY GROUP AND RELATED SYNERGY EFFECTS

Source text for Eikon:  ID:nEQ5hPrZya 
Further company coverage:  IMFI.VI 

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