ACRON HELVETIA I IMMOBILIEN AKTIENGESELLSCHAFT Successful Sale of Steigenberger Alpenhotel and Spa in Gstaad-Saanen
ACRON HELVETIA II (BX: AHBN) has sold the Steigenberger Alpenhotel and Spa in Gstaad-Saanen, Switzerland, at a profit for its shareholders to Huus Gstaad AG. A clear majority of shareholders passed a resolution approving the sale proposed by the Board of Directors at the December 3, 2015 extraordinary meeting of shareholders. The sale proceeds total CHF 26.29 million. This exceeds the property value determined as of June 30, 2015 by some CHF 1.5 million and is around CHF 2 million more than the March 31, 2005 purchase price. During the 10-year holding period, the average annual distribution to shareholders amounted to 6.2%. As a result of the sale, the company anticipates an additional distribution of CHF 80 to 90 per registered share.
Zurich, December 4, 2015 - At the extraordinary meeting of shareholders of ACRON HELVETIA II Immobilien AG, shareholders voted in favor of selling the property and authorized the Board of Directors to execute the sale as well as dissolve and liquidate the company, and submit the company's delisting application. Kai Bender (Vice President and delegate of the Board of Directors) and Peter Lindegger (member of the Board of Directors) were elected liquidators of the company. Shareholders also authorized early distribution of the company's assets by the liquidators.
"The ACRON initiated investment ACRON HELVETIA II Immobilien AG will be successfully closed after a holding period of around 10 years, creating a profit for shareholders. Together with the proceeds from the sale, the company will have distributed to shareholders holding the investment since inception a total of around CHF 150 per share or 150% of their originally invested equity. For euro-zone investors, this equals to up to 200% of the capital paid in at the start of the investment, taking into account the current exchange rate and exchange rate gains", according to Kai Bender, CEO ACRON.
The contracts stipulate proceeds from the sale of the building, dissolution of the lease agreement, and other expense reimbursements totaling CHF 26.29 million. Considering the March 31, 2005 purchase price, the sale produced a profit of approximately CHF 2 million. The total proceeds will be available to shareholders after repayment of the existing bank loan and payment of all fees, taxes, and expenses customary in Switzerland. The company will be liquidated to implement the distribution to shareholders. According to the Board of Directors, a significant distribution of the liquidation proceeds is expected as early as the first quarter of 2016. It estimates the liquidation proceeds eligible for distribution at between CHF 80 and CHF 90 per registered share.
About ACRON HELVETIA II Immobilien AG
ACRON HELVETIA II Immobilien AG holds the four-star Steigenberger Alpenhotel and Spa investment property in the popular tourist destination of Gstaad-Saanen. Featuring 132 rooms and six conference rooms, it is one of the top hotels in the Bernese Oberland region and also holds an important place in the seminar segment. The tenant is Steigenberger Hotels AG of Thalwil. The shares of ACRON HELVETIA II Immobilien AG (stock market symbol: AHBN) have been listed on the BX Berne eXchange since June 30, 2009. (www.acron-helvetia2.ch).
About ACRON
The ACRON Group has been exclusively specialized in real estate investments for more than 30 years. The company initiates real estate investments based on a single-asset structure in Switzerland, Austria, Germany, and the United States. Hotel properties are the focus, making up 40% of ACRON Group's current investments. In total, ACRON initiated 48 property investments to date with a transaction volume of CHF 1,064 million. The ACRON Group is headquartered in Zurich, Switzerland, with subsidiaries in Luxembourg (Luxembourg), Düsseldorf (Germany), Dallas (USA), and Rio de Janeiro (Brazil). www.acron.ch
Press Contact:
Kai Bender, ACRON AG
kai.bender@acron.ch
+41 - 44 - 204 34 00
Jan Gregor, Gregor Communications GmbH
acron@gregorcom.ch
+41 - 44 - 212 41 41
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