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Aevis unit to sell stake in Swiss property company Générale-Beaulieu Immobilière

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Aevis unit to sell stake in Swiss property company Générale-Beaulieu Immobilière

Aevis Victoria SA unit Generale Beaulieu Holding SA, or GBH, moved to sell its interest in Générale-Beaulieu Immobilière SA, or GBI, in a cash-and-stock deal that values the Swiss property operator and developer's real estate assets at CHF196 million.

The buyer is Swiss healthcare-focused real estate company Infracore SA. Under the deal terms, GBH will subscribe to Infracore shares, boosting Aevis Victoria's shareholding in Infracore to 30% from 19%. The remaining consideration will be paid in cash.

The deal will also see Baloise Group and Medical Properties Trust Inc.'s shareholding in Infracore lower to 30% and 40%, respectively.

GBI owns several properties in Geneva's Champel district, including the Clinique Générale-Beaulieu, offering a total rental surface of 19,005 square meters.

GBI is building a new underground complex encompassing about 1,000 square meters for the radiotherapy facilities of the future Cancer Center of Clinique Générale-Beaulieu.