August 30, 2017 / 9:50 AM / a year ago

Immofinanz might agree new schedule on merger with CA Immo

VIENNA, Aug 30 (Reuters) - Immofinanz said it might agree a new schedule for its merger with rival Austrian property group CA Immo, after talks are currently on hold.

Immofinanz’s Chief Financial Officer Stefan Schoenauer told reporters on Wednesday there was a shortlist of less than five potential buyers for its five Moscow shopping centres, the last hurdle to restarting the merger talks.

Immofinanz said exit from the Russian sites will trigger the “coordination with CA Immo to present (a) new schedule for (the) merger.”

When asked whether this means the original schedule will not hold, Chief Executive Oliver Schumy said the group had not said that.

Regular shareholder meetings are expected for around May, but spokeswomen for both companies said there might be extraordinary meetings too.

Reporting By Shadia Nasralla

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