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Press Release / Announcement pursuant to Sec 5 ATA


News provided by

Starwood Capital Group

22 Mar, 2018, 03:18 GMT

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LUXEMBOURG, March 22, 2018 /PRNewswire/ -- SOF-11 Starlight 10 EUR S.à r.l., Luxembourg ("Bidder"), a wholly owned, indirect subsidiary of SOF-11 International, SCSp, part of a collection of entities known as Starwood Global Opportunity Fund XI and an affiliate of Starwood Capital Group ("Starwood"), makes the following announcement pursuant to Sec 5 para 3 Austrian Takeover Act ("ATA"):

On 22 March 2018, the Bidder decided to launch voluntary public takeover offers pursuant to article 4 et seq ATA to (i) the shareholders of CA Immobilien Anlagen AG ("CA Immo") and to (ii) the shareholders of Immofinanz AG ("Immofinanz").

The takeover offer to the shareholders of CA Immo is aimed at acquiring up to 25,690,167 bearer shares of CA Immo (ISIN AT0000641352) representing up to 26.00% of the overall issued bearer shares of CA Immo.

The takeover offer to the shareholders of Immofinanz is aimed at acquiring up to 55,831,570 bearer shares of Immofinanz (ISIN AT0000809058) representing up to 5% of the overall issued bearer shares of Immofinanz.

The shareholders of CA Immo are offered an offer price of EUR 27.50 per CA Immo share on a cum dividend basis. That means that the offer price per CA Immo share will be reduced by the amount of any dividend declared per CA Immo share between the announcement of this takeover offer for CA Immo and settlement of this takeover offer for CA Immo, provided that settlement of this takeover offer for CA Immo occurs after the relevant record date for CA Immo.

The shareholders of Immofinanz are offered an offer price of EUR 2.10 per Immofinanz share on a cum dividend basis. That means that the offer price per Immofinanz share will be reduced by the amount of any dividend declared per Immofinanz share between the announcement of this takeover offer for Immofinanz and settlement of this takeover offer for Immofinanz, provided that settlement of this takeover offer for Immofinanz occurs after the relevant record date for Immofinanz.

The completion of the takeover offer for CA Immo will be subject to the following offer conditions:

(i) merger control clearance;

(ii) no material adverse change at CA Immo including but not limited to merger, spin-off or split; and

(iii) no consent by CA Immo management to transfer the four registered name shares.

Details on the contents and scope of the offer conditions will be set out in the offer document.

The completion of the takeover offer for Immofinanz will be subject to the following offer conditions:

(i) merger control clearance;

(ii) no material adverse change at Immofinanz including but not limited to merger, spin-off, split or disposal over the 26% stake and/or the four registered shares held by Immofinanz in CA Immo.

Details on the contents and scope of the offer conditions will be set out in the offer document.

Both takeover offers are independent from each other.

Barry Sternlicht, Chairman and CEO of Starwood Capital Group, said, "Starwood Capital has a long track record of investing in and successfully growing public companies, and we believe that the substantial capital resources and experience we can contribute as a strategic shareholder of CA Immo and Immofinanz could provide significant value."

Keegan Viscius, a Vice President responsible for real estate investments across Europe, said, "We have a tremendous amount of respect for the achievements of the management teams at both CA Immo and Immofinanz, and are firmly supportive of both management teams through the next phase of growth."

The publication of both offer documents will take place in accordance with the legal provisions.

It is not the intention of the Bidder to completely take over CA Immo and Immofinanz with these takeover offers. Upon completion of both takeover offers, CA Immo and Immofinanz shall remain listed on the Vienna Stock Exchange (and relating to Immofinanz also on the Warsaw Stock Exchange).

About Starwood: Starwood Capital Group is a private alternative investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 11 offices in four countries around the world, and currently have approximately 3,700 employees. Starwood Capital Group has raised $44 billion of equity capital since its inception in 1991, and currently manages approximately $56 billion in assets. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 26 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.

UBS acts as financial advisor to the Bidder. Schönherr Rechtsanwälte GmbH is the Bidder's Austrian legal advisor and representative and authorized recipient vis à vis the Takeover Commission (Übernahmekommission).

Related Links

http://starwoodcapital.com

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