Immofinanz moves to take over S Immo

Austrian real estate group Immofinanz has announced that it has decided to launch a public takeover bid for S Immo AG, a year after talks were stopped because of the pandemic. The takeover, if approved, will lead to the creation of a giant with assets of over EUR 1 billion in Romania alone.

Immofinanz owns 13 properties worth EUR 618 million in Romania. S Immo owns the four-star Novotel hotel in the center of the Capital, the Sun Plaza shopping center with Sun Offices offices, and the The Mark office building near the North Railway Station.