CA Immobilien Anlagen said on Monday that it intends to boost its stake in CA Immo International to up to 56% from the current 51%. The company will take advantage of the current 'extremely low price' of CA Immo International's shares, which is around 20% below net asset value (NAV). In a statement, CA Immobilien Anlagen said that the move will involve an investment of about EUR 25 mln.
CA Immobilien Anlagen said on Monday that it intends to boost its stake in CA Immo International to up to 56% from the current 51%. The company will take advantage of the current 'extremely low price' of CA Immo International's shares, which is around 20% below net asset value (NAV). In a statement, CA Immobilien Anlagen said that the move will involve an investment of about EUR 25 mln.
CA Immo was founded in 1987 and invests in offices, business hotels, shopping malls, logistics parks and warehouses. The total portfolio was valued at EUR 2.2 bn at end-June this year. The company restructured its operations in 2006 by putting CA Immo in charge of its Western Europe portfolio. CA Immo International was created to manage its activities in Eastern Europe. CA Immo New Europe was set up as a property fund for projects, and H1 Hotelfonds as a property fund in the hotel sector.
