PEUGEOT INVEST Neuilly-sur-Seine, 17 June 2019
FFP acquires a stake of 5% in
the real estate company SIGNA Prime Selection AG
FFP has acquired 5% of the capital of SIGNA Prime Selection AG ("SIGNA Prime") for €186 million. SIGNA Prime's strategy is to own high-quality property assets in the very long term (mainly offices and retail), at the heart of city centres in Germany, Austria and Northern Italy, offering substantial value creation potential.
As at 31 December 2018, SIGNA Prime holds assets worth nearly €11 billion with perspectives for further growth, particularly through the repositioning of real estate assets and the transformation of city centres in large-scale projects. The SIGNA Prime portfolio includes iconic buildings such as the department stores KaDeWe and the Upper West Tower in Berlin, Oberpollinger and Alte Akademie in Munich as well as the Goldenes Quartier including the Park Hyatt Hotel in Vienna.
FFP will take part in the governance of SIGNA Prime through its representation on the company's Supervisory Board and Investment Committee.
The stake in SIGNA Prime was acquired from its majority shareholder SIGNA Holding GmbH, an Austrian group with operations in real estate and retail (including the Karstadt and Kaufhof department stores chains) founded by the Austrian entrepreneur René Benko.
"Fully consistent with its investment strategy, FFP is investing alongside a talented entrepreneur who has built a group with high quality assets offering an attractive development potential. This new investment will double the value of FFP's real estate investments, while providing exposure to a new and strong economic region".
About FFP:
FFP is an investment company listed on Euronext, majority-owned by Etablissements Peugeot Frères and led by Robert Peugeot. FFP is one of the leading shareholders in Peugeot SA and pursues a policy of establishing minority shareholdings and long-term investments. FFP holds interests in listed companies (such as SEB, Safran, ORPEA, LISI and SPIE), non-listed companies (such as Tikehau Capital Advisors and Total-Eren),co-investments (such as IHS and JAB Holdings), private equity funds and real estate.
About SIGNA Prime Selection:
SIGNA Prime Selection AG forms part of SIGNA Group and was founded in 2010. Today, SIGNA Prime holds real estate assets worth approximately €11 billion in prime city centre locations in Germany, Austria and the Northern part of Italy. SIGNA Group was founded by entrepreneur René Benko in 1999 and is a privately owned industrial holding company active in the real estate, retail and media sectors.
https://www.signa.at/en/realestate/signa-prime-selection-ag/
Investors contact: | www.groupe-FFP.fr | Press contact: |
Sébastien Coquard: +33 1 84 13 87 20 | Samuel Rousseau: +33 1 58 47 89 54 | |
sebastien.coquard@groupe-FFP.fr | samuel.rousseau@havasww.com |
Attachments
- Original document
- Permalink
Disclaimer
FFP - Société Foncière et Financière de Participations SA published this content on 17 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2019 16:38:08 UTC
