Swiss real estate firm Ina Invest plans merger with Cham Group (updated)
23/09/2024 07:17
(Adds comment from Ina shareholder, paragraph 3)
ZURICH, Sept 23 (Reuters) - Swiss real estate company
Ina Invest INAI.S said on Monday it is considering a merger
with its peer Cham Group, and that if talks are successful,
shareholders of both firms will be able to vote on the plan in
the spring of 2025.
Ina said the merger is to be carried out as a merger of
equals and that a corresponding letter of intent has been signed
by the boards of directors of both companies.
Swiss construction and real estate firm Implenia IMPN.S ,
which holds a stake of around 40% in Ina, said in a statement
that it welcomed the talks.
Discussions between Ina and Cham about the potential merger
are still at an early stage, Ina said.
"The potential merger would create one of Switzerland's
leading real estate companies, with a high-quality, sustainable
portfolio in prime locations," Ina added in a statement.
Between them, the two firms have investment properties and
development projects in Basel, Cham, Geneva, Lausanne,
Winterthur and Zurich, according to the statement.
Their combined portfolio would have a residential share of
over 50% after completion, and the idea is to have the merged
company trade on SIX stock exchange, it added.
(Reporting by Oliver Hirt
Writing by Dave Graham
Editing by Rachel More)
((dave.graham@thomsonreuters.com; Reuters Messaging:
dave.graham.thomsonreuters.com@reuters.net))