Pax Anlage sells stake in Sonnenhof Immobilien AG
Pax Anlage AG is divesting its 51 percent stake in Sonnenhof Immobilien AG in Emmenbrücke (LU). According to the company, the closing of the sale of the stake and the associated 90-unit project is expected to take place by the end of July 2016.
Swiss media reports cite the recently adopted strategy adjustments as the background to the sale of Pax Anlage's only non-wholly owned stake. Accordingly, the more volatile development business is to be reduced and the expansion of the existing portfolio is to be driven forward.
As part of the sale agreed as of June 30, 2016, a total of 125 residential units will be transferred to the investment portfolio and the investment in Sonnenhof Immobilien AG including the associated project with 90 residential units will be sold. No information was provided on the buyer and price. (bw)
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