S Immo to quickly invest funds from Immofinanz stake sale in property - CEO

S IMMO AG

01/02/2022 14:00

BERLIN, Feb 1 (Reuters) - Austrian property group S Immo
 SIAG.VI  plans to invest the funds it will receive for its
stake in rival Immofinanz  IMFI.VI  into property quickly, its
CEO Bruno Ettenauer told Reuters on Tuesday.
    A combination of Immofinanz and S Immo is still on the
table, even after S Immo withdrew from a takeover battle and
agreed to sell its 12.7% stake to rival bidder CPI Property
Group  O5G.DE  on Monday.  urn:newsml:reuters.com:*:nASN0022XW
    Immofinanz holds 26.5% in S Immo, and CPI has said it wants
either the stake to be sold or the two to merge. The latter
would require a fair offer and synergy effects, Ettenauer said.


    
    
    
    
    
    

 (Reporting by Alexandra Schwarz-Goerlich, writing by Kirsti
Knolle)
 ((kirsti.knolle@thomsonreuters.com;))