Investis completes sale of service subsidiary
The CHF 240 million transaction is in the bag. Property purchases of a similar magnitude are now on the agenda.
Investis announces that the sale of the entire Real Estate Services division to PHM Group Oy, a subsidiary of the Finnish PHM Group TopCo Oy, has been completed, according to a press release issued recently. The enterprise value amounts to CHF 240 million. Upon completion, Investis will acquire a minority stake in the PHM Group amounting to CHF 51.3 million. Stéphane Bonvin, CEO of the Investis Group, has been elected to the Board of Directors of the PHM Group.
200 million purchase agreements signed
According to Investis, it intends to focus on expanding its real estate portfolio in the future. Purchase agreements for CHF 201 million with a target rental income of CHF 12.5 million have already been signed. The closing of these real estate purchases has been announced for the coming weeks.
The sale of the Real Estate Service segment will significantly increase equity. Even after these real estate purchases totaling CHF 201 million, the LTV (loan-to-value) is likely to be slightly below the value of 26% at the end of 2023, according to the company.
Investis announced the sale of the service division at the beginning of the month (IB reported). (aw)
