Swiss Life to acquire stake in Ina Invest

Implenia had announced on February 25, 2020 that it would float part of its development portfolio on the stock market as Ina Invest in June of this year. Just a few days later, the construction company announced that the planned spin-off was not only well received by existing shareholders, but was also attracting interest from real estate investors. Swiss Life intends to acquire a stake of up to 15% in Ina Invest Holding.

Stefan Mächler to become Chairman of the Board of Directors

Implenia also announces that Stefan Mächler, Group Chief Investment Officer (Group CIO) and member of Swiss Life's Corporate Executive Board, is to become Chairman of the Board of Directors of Ina Invest Holding and Ina Invest. After studying law, Mächler initially held various positions at Credit Suisse. He is considered a driving force behind the founding of Swiss Prime Site, whose Board of Directors he chaired until 2005. From 2009 to 2014, Mächler headed Mobiliar's asset management as a member of the Group Executive Board and CIO, and he has been with Swiss Life since September 2014.

The announced spin-off Ina Invest is convincing, says Mächler about his nomination as designated Chairman of the Board of Directors. "Last but not least, Ina Invest offers convincing financial prospects. The expected increase in value of the projects during the development phase and later in the leasing phase should create added value for shareholders."

Market value of CHF 300 million

According to Implenia, the current market value of the part to be spun off is estimated by independent valuers at around CHF 300 million or over CHF 1 billion on completion of all projects. Through investments, e.g. in land reserves, of around 50 million annually, the portfolio is expected to grow to 2 billion on completion.

Implenia's Annual General Meeting must approve the spin-off on March 24. The new company will then be listed on the SIX Swiss Exchange in June. (ah)