Swiss Intershop Holding AG Acquires Stake in CORESTATE Capital AG
Intershop Holding AG intends to acquire stake in CORESTATE Capital AG, based in the Swiss town of Zug, with approximately EUR 20m within the framework of a capital increase as well as the purchase of existing shares and participation certificates. The capital increase will help to fund the ongoing expansion of CORESTATE Group.
Comment by Ralph Winter, Founder of CORESTATE Capital AG:
“The expansion of our equity base is a sign for the consistent implementation of our growth strategy. Looking forward, the CORESTATE Group will in addition to its opportunistic approach also focus on core investments and those generating value-add returns. In Intershop Holding AG, we have now gained an institutional partner who wishes to join us in realising opportunities of the German real estate market.”
Intershop Holding AG is one of the oldest real estate companies listed at the SIX Swiss Exchange. The company’s investment activities focus on commercial properties with development potential. With this new participation Intershop, seated in Zurich, will exploit to take part in the lucrative growth opportunities of Germany’s real estate market on which the CORESTATE Group has concentrated since its founding in 2006.
Source : Company