WOOD Flash – Immofinanz, S Immo: Mr. Pecik exits, selling stakes in each to Aggregate Holdings
Aggregate Holdings (Aggregate), having made the headlines two weeks ago with the suggestion that it was considering launching a bid for a minority stake in CA Immo, is making further inroads into the real estate firms listed in Vienna. On Friday (29 January), S Immo and Immofinanz announced that Ronny Pecik, who owns 9% of S Immo and jointly controls a 10.5% stake in Immofinanz, agreed to sell his stakes in the two firms to Aggregate. The sale of the Immofinanz stake is subject to approval from Pecik’s co-investor, Slovak real estate investor Peter Korbacka, who has until the end of March to decide. Pecik said he will step down as the CEO of Immofinanz if the deal is approved. According to our understanding, the sale of the 9.03% S Immo stake has been closed already. Aggregate is a real estate investor and developer, focused on Germany and Portugal. Aside from various development projects, it owns a 26.6% stake in Adler Group, a listed German residential landlord, with a focus on Berlin.Immofinanz AG is an Austria-based real estate company that invests in commercial properties. The Company's core activities are the management and development of retail and office properties in selected Central and Eastern European countries. The Company focuses its operations on such markets as Austria, Germany, the Czech Republic, Slovakia, Hungary, Slovenia, Romania and Poland. The Company manages a portfolio of approximately 240 properties, covering rentable space of approximately 1.8 million square meters. In the office sector, the Company concentrates on the capital cities of the core countries and the major office locations in Germany with its international myhive brand. The Company's activities in the retail sector are based on the brands STOP SHOP for retail parks and VIVO! for shopping centers which are designed for secondary and tertiary cities of Central and Eastern Europe.
S Immo AG is an Austria-based company engaged in the real estate sector. The Company specializes in the acquisition, letting and sale of properties. Furthermore, It offers real estate project developments, which includes Einsteinova office, Quartier Belvedere Central, and The Mark office project, among others, renovation of existing properties, asset and portfolio management and a range of services, such as facility management and brokerage. The Company's real estate portfolio comprises residential, office, retail and hotel properties. It operates four geographical segments: Austria, Germany, Central Europe (CEE) and Southeastern Europe (SEE). In addition, the Company is a parent of CEE Immobilien GmbH, Hansa Immobilien EOOD, Rega Property Invest sro, Ikaruspark GmbH, SC Societate Dezvoltare Comercial Sudului (SDCS) SRL, Maior Domus Hausverwaltung GmbH, and Eurocenter doo, among others.
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