Ina Invest says merger talks with Cham advanced
12/12/2024 06:27
ZURICH, Dec 12 (Reuters) - Swiss real estate company Ina
Invest INAI.S said on Thursday its merger talks with peer Cham
Group are now advanced and could be approved by shareholders in
late March.
If negotiations are successful, the merger will be submitted
to both companies' shareholders for approval at their annual
general meetings on March 31, 2025, Ina said in a statement.
Based on previous valuation considerations and subject to
the companies' year-end annual financial statements, Ina said it
is assumed that Ina shareholders would hold a stake of
approximately 34% in the merged company.
Construction and real estate firm Implenia IMPN.S , which
has a stake of around 40% in Ina, said it currently expects to
end up with a holding of about 14% in the new firm. It will also
continue to have a seat on the board of directors.
Agreements between Ina and Implenia on development,
portfolio management, asset management and realisation of the
portfolio will be replaced by strategic partnership agreements.
As a result, Ina will make a one-off payment of 31 million
Swiss francs ($35 million) to Implenia in 2025, Implenia said.
($1 = 0.8838 Swiss francs)
(Writing by Dave Graham, Editing by Rachel More)
((dave.graham@thomsonreuters.com; Reuters Messaging:
dave.graham.thomsonreuters.com@reuters.net))