Hahn Group agrees strategic cooperation with Unimo

German retail investment specialist Hahn Group has said a new cooperative agreement with Swiss firm Unimo will open up a new procurement pipeline and faciliate entry into the market segment for 'A' retail locations.

Hahn Group said it has until now exclusively focused its investments on large-scale retail areas. The strategic cooperation with Unimo will enable the German firm to extend its activities to the management of other retail segments such as high-street properties and shopping centres.

The agreement will also result in the inflow of about EUR 12.5 mln of funds into Hahn Group and the appointment of Unimo founder Michael Nave as the new CEO of Hahn Group.

The cooperation agreement specifies that Unimo and/or Michael Nave will subscribe for at least 2.3 million shares of Hahn Immobilien in the next few years at a minimum price of EUR 5.50 per share, which will be paid for by cash capital increases. The subscription price is a sizeable premium compared with the current closing price per 22 January of EUR 2.07. Hahn Group said the EUR 12.5 mln in additional funds will be used to finance the company's further growth.

Unimo is based in the Swiss city of Zug. The firm is a real estate investor and project developer and undertakes commercial retail properties located in triple A-locations, shopping centers as well as retail warehouse centres in prime shopping locations. The majority shareholder of the Hahn Group, Michael Hahn, and the Unimo Group, respectively Michael Nave, intend to create equal shareholdings over the coming three to five years.

Unimo Group is owned by Michael Nave and the family Gerstner (Quadro Beteiligung), each having a share of 50%. Unimo is active in the target markets of Germany, Eastern Europe and Switzerland and currently holds property assets under management of approximately EUR 500 mln.