ZÜBLIN IMMOBILIEN HOLDING AG Press release
Zurich, 21 August 2017
Züblin Immobilien Holding AG: Sale of German Real Estate Portfolio successfully closed
Züblin Immobilien Holding AG and the UK listed and domiciled property investment company CLS Holdings plc have closed today the transaction including all twelve German properties with an underlying gross asset value of EUR 152 million. Eleven properties were sold in a share deal, i.e. via the sale of two existing Züblin subsidiaries. One property was sold via a direct purchase. Altogether the company has cleared today EUR 56 million from the transaction.
Dr. Iosif Bakaleynik, Chairman and CEO comments: "The successful completion of this transaction enabled Züblin to realize value at a very attractive level. It also opens opportunities to grow the company and to create shareholder value by reinvesting available funds into carefully selected assets."
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