Allreal focuses on western Switzerland
Allreal acquires parts of Immosynergies Holding Sàrl in Cointrin GE, thereby significantly expanding its commitment in western Switzerland. Half of the purchase price is paid in shares. As a result, owner Olivier Plan becomes a major shareholder in Allreal.
According to a media release, the real estate company Allreal is acquiring individual companies from Immosynergies Holding Sàrl , based in Cointrin GE. According to a press release, almost all of the properties taken over are in prime locations in the canton of Geneva. There is also a portfolio of development projects in the cantons of Geneva and Vaud. Allreal is thus significantly expanding its involvement in western Switzerland.
According to the announcement, the package taken over by founder and owner Olivier Plan from Immosynergies Holding Sàrl includes investment properties of around CHF 500 million and additional development properties of around CHF 210 million, which have a potential investment volume of more than CHF 700 million. Allreal also buys the general contractor belonging to the group of companies. All 45 employees will be taken over. The net purchase price of the entire transaction is given as around CHF 400 million.
Half of the net purchase price is to be paid in cash and half in Allreal shares. As a result, Olivier Plan, who is 100 percent owner of Immosynergies Holding Sàrl, will be one of Allreal's largest shareholders after the transaction is complete.
The Board of Directors of Allreal Holding AG intends to carry out a capital increase from the authorized capital while excluding subscription rights for the previous shareholders. It is planned to issue up to 650,000 new Allreal shares, which corresponds to an increase in the existing share capital of 4.1 percent.
As a result of the transaction, the total market value of the Allreal investment properties will rise to around CHF 5.1 billion.