Erste Group Bank AG sold its 10.21% stake in Austrian real estate investment company S IMMO AG to RPR Privatstiftung subsidiary Theos GmbH.
The stake corresponds to 6,832,561 shares, bringing RPR Privatstiftung's total participation in S IMMO to 21.86% or 14,629,756 shares, held through indirect subsidiaries Theos, Everest Investment GmbH & Co KG and Pavus Immobilien GmbH & Co KG.
Familie Benko Privatstiftung, through controlled subsidiary SIGNA Holding GmbH, entered into agreements with the RPR subsidiaries on the financing of the acquisition through participation rights of Theola Invest GmbH, a direct RPR subsidiary that holds Theos, and on-call and put-option rights. From Jan. 15, 2018, to Dec. 15, 2019, SIGNA has the right to acquire the 2,443,770 shares held by Everest Investment and the 5,353,425 shares held by Pavus Immobilien in S IMMO, as well as all the shares in Theola Invest.
SIGNA is obliged, from Sept. 30, 2018, to June 30, 2020, to acquire the S IMMO shares held by Everest Investment and Pavus Immobilien, and to acquire all shares in Theola Invest from Jan. 15, 2020, to June 30, 2020.