UniCredit Bank Austria sells BAI, a real estate development company, to an Austrian group of investors

  • After a bidding procedure which started in 2015 for the sale of the real estate portfolio of Immobilien Holding GmbH, the purchase agreement has been signed today

UniCredit Bank Austria AG announces that the purchase agreement for all equity interests held by BAI Bauträger Austria Immobilien GmbH, which also include BAI Bauträger Austria Immobilien GmbH's project development operations, has been signed with SIGNA and an Austrian group of investors including Erwin Krause and Franz Kollitsch accompanied by the Austrian real estate investment manager INVESTER United Benefits GmbH as part of a 50/50 joint venture as purchaser. The sale was effected after a number of strategic and financial investors had shown strong interest in the course of a structured open bidding procedure, started in early 2015, for the entire real estate portfolio of Immobilien Holding GmbH, which was targeted at Austrian and international investors.

The two-stage structured bidding procedure for Immobilien Holding GmbH was directed by Bank Austria's own M&A team (UniCredit Corporate Finance Advisory Austria & CEE) and was accompanied during the first phase by the law firm of Freshfields Bruckhaus Deringer, and during the second phase, which comprised the sale of BAI Bauträger Immobilien GmbH, by the law firm of Fellner Wratzfeld und Partner.

The transaction will probably be completed in 2017. The contracting parties have agreed not to disclose transaction details and the purchase price. The sale of the portfolio of equity interests held by UniCredit Bank Austria‘s Immobilien Holding GmbH reflects the bank's sharper focus on core banking business.

BAI Bauträger Austria Immobilien GmbH
BAI Bauträger Austria Immobilien GmbH develops, builds and manages residential, office and commercial property in Austria and in selected locations abroad. The properties have a significant influence on the function and aesthetic appearance of the urban environment. The focus is on efficient long-term use of resources to support the future development of the city at all levels.

Enquiries: UniCredit Bank Austria Corporate Communications
Martin Halama, tel. +43 (0) 50505 - 52371
e-mail: martin.halama@unicreditgroup.at