S IMMO to acquire an additional 10% share in IMMOFINANZ for $320m.

S IMMO, a real estate investment company, agreed to acquire an additional 10% share in IMMOFINANZ, a commercial real-estate company, for $320m. "The price per IMMOFINANZ share offered by CPI for control is not adequate. We as a major shareholder will therefore not tender into this offer. Against the background of CPI having already acquired a large stake in IMMOFINANZ the expansion of our currently 14.2% stake in IMMOFINANZ is for the time being the best way to enhance and protect the value of S IMMO and its share. We continue to believe that ultimately the unwinding of the cross shareholding between IMMOFINANZ and S IMMO is warranted," Bruno Ettenauer, S IMMO CEO.