Property investor Immofinanz has set the price of shares in the squeeze-out operation of S Immo and has established the adequate cash compensation.
As the main shareholder of S Immo, Immofinanz will pay €22.05 per share. PwC Advisory Services has prepared a valuation report as a basis for determining the cash compensation.
“In the course of the squeeze-out proceedings, Immofinanz together with the Management Board of S Immo will submit the joint report pursuant to sec 3 para 1 of the Austrian Squeeze-Out Act (Gesellschafterausschlussgesetz – GesAusG). The accuracy of the joint report as well as the adequacy of the cash compensation are subject to an examination and confirmation by BDO Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft as court-appointed expert,” said Immofinanz in a statement.
The company added that the squeeze-out shall be resolved upon at an Extraordinary General Meeting of S Immo, which is planned to take place on October 14.
