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Immofinanz AG (IMFI.VI)

IMFI.VI on Vienna Stock Exchange

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Mon, Jul 2 2018

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Austria's Immofinanz sells CA Immo stake and launches share buyback

VIENNA Austrian property group Immofinanz agreed on Monday to sell its 26 percent stake in rival CA Immo for $882 million to U.S. investor Starwood, drawing a line under a failed merger attempt.

UPDATE 2-Austria's Immofinanz sells CA Immo stake and launches share buyback

* Aims to repurchase up to 9.7 mln outstanding shares (Adds Starwood CEO, CA Immo reaction, trader)

Immofinanz to sell CA Immo stake to Starwood

VIENNA, July 2 Austrian property group Immofinanz agreed to sell its nearly 26 percent stake in rival CA Immo for 758 million euros ($882 million) to U.S. investment firm Starwood, it said on Monday.

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