The most recent statements from the CA Immo Management Board (see below) with respect to the planned merger of the two companies sound anything but optimistic. I ask myself the question of why negotiations or discussions are not continuing over key issues such as the future asset class strategy and synergies (irrespective of the ongoing process relating to the separation of Russia). The time factor does after all play an important role in the success of the planned merger.
"It can only be established if a merger makes sense 'once it becomes clear as to whether there is added value for instance on a regional basis or in relation to the asset classes'. From the IMMOFINANZ side, there has been much talk of synergies. He is however always sceptical about synergy forecasts. 'This needs to be verified. Unfortunately, we have not yet reached this point with IMMOFINANZ', said the CEO."
IMMOFINANZ "bid farewell" to the hotel asset class some time ago. Key words: Focus on core competencies and two asset classes. Why has there now been a U-turn with the expansion of the Business Park Vienna to include a hotel for the myhive Twin Towers?
Many thanks and I look forward to hearing from you.