Chamartin Meermann Immobilien AG
Chamartín Meermann Immobilien AG plans IPO
Chamartin Meermann Immobilien AG / IPO 24.06.2010 15:41 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- THE INFORMATION CONTAINED IN THIS DOCUMENT IS NEITHER FOR PUBLICATION NOR CIRCULATION IN OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN. Chamartín Meermann Immobilien AG plans IPO - Largest real estate developer in Berlin entering Prime Standard - Focus on prime locations in 'Neue Berliner Mitte' - Current project volume of more than 200,000 sqm with expected revenues of about EUR 600 million - Attractive profitability with earnings before taxes of around EUR 15 million on a pro forma basis in 2009 Berlin, 24 June 2010 - Chamartín Meermann Immobilien AG (CMI AG) is preparing for its Initial Public Offering (IPO). The company aims to increase capital with a public offering in Germany as well as with private placements throughout Europe. The initial listing of the CMI shares will take place on the Prime Standard of the Frankfurt Stock Exchange. Proceeds will serve to strengthen the company's equity base and help finance further growth in Berlin, one of the most attractive real estate locations in Europe. Hauck & Aufhäuser Privatbankiers KGaA and BankM - representative office of biw Bank für Investments und Wertpapiere AG will act as joint lead manager and joint bookrunner. Silvia Quandt & Cie. AG will act as co-lead manager. In addition comdirect Bank AG, DAB bank AG as well as flatex Online broker will take over the role as selling agents. Chamartín Meermann Immobilien AG is the largest real estate developer in Berlin according to a recent study from BulwienGesa, one of the leading independent real estate market researchers in Germany. The company concentrates on developing attractive living spaces of the highest quality in the residential, office, commercial and hotel segments. Its regional focus is the capital's 'Neue Berliner Mitte' in the area surrounding the government district, whose urban development has been - and will continue to be - considerably influenced by numerous projects from CMI AG. With this focus, CMI AG generates above-average yields. 'We see the IPO as the next logical step in our growth strategy,' comments Heinz H. Meermann, founder and Chairman of the Supervisory Board at CMI AG. 'With a project volume of about EUR 600 million and a developing space of more than 200,000 sqm, Chamartín Meermann Immobilien has achieved a size that requires greater financing flexibility, broadening the shareholder base and corresponding transparency.' Focus on prime real estate in top locations and districts with unique selling points As a real estate developer, the company purchases property or real estate, develops it into attractive living spaces, consisting of exclusive residential, office or commercial units, and then sells these at a profit to investors or owner-occupiers. This includes renovating exclusive historical buildings as well as new constructions in top locations and developing entire districts with unique selling points. This clearly separates CMI AG's business model from those of other listed real estate companies, which mainly just hold existing portfolios. Among the most important projects currently in development are the residential and office building Palais am Deutschen Theater with about 21,500 sqm of rental space, the residential and office building Pergamon Palais with more than 10,000 sqm, the Sheraton Berlin Hotel at the Central Station with 464 rooms as well as two large districts, one directly next to the new BND (Federal intelligence service) headquarters and the other located on the waterfront in Köpenick. Overall, CMI AG has 27 projects in various stages of development in the pipeline with an expected sales volume of about EUR 600 million. The maturity of the current portfolio as well as the exceptional position of the 'Neue Berliner Mitte' as a real estate location form the potential for substantially increasing revenues over the coming years. More than 30 years experience and a strong partner at its side Chamartín Meermann Group can look back on more than 30 years of experience in project development and has realised more than 50 high-end renovations of old buildings as well as numerous new constructions in the German capital. CMI AG emerged from the cooperation between Meermann Bau- und Invest GmbH and the Spanish real estate group Inmobiliaria Chamartín S.A., Madrid, which currently holds an ownership stake of about 90%. Together, the two partners formed CMI AG, the market leading real estate developer in Berlin, and pooled both their investment activities and development endeavours in the company in 2009. In the 2009 financial year Chamartín Meermann Immobilien generated revenues of EUR 73.6 million on a pro forma basis (including full consolidation of the Group's managed and consolidated project subsidiaries) and earnings before taxes (EBT) of EUR 15.1 million. Berlin only market to grow in crisis year 2009 With 4.8 million sqm of project area, Berlin is home to the largest project development market in Germany and was the only city among the German A-cities* to show significant growth during the crisis year 2009. The capital has much more to offer than just stability with its balanced mix of industries - it also presents excellent growth opportunities with its planned infrastructure projects, such as the new airport hub Berlin Brandenburg International as well as through the further influx of government agencies, associations, organisations and companies from future-oriented industries. Within the city, Berlin-Mitte is the gold standard. The exceptional strength of 'Mitte' is seen in both the prime rental prices of the residential and office segments and the peak prices for owner-occupied flats, which are substantially higher than Berlin's overall average. 'Due to the continual influx of institutional customers and unique design possibilities, Berlin is one of the fastest growing project development markets in Europe today with very attractive high-yield opportunities. We are especially well positioned in the prime market Berlin-Mitte and can utilise the funds generated from the IPO to expand our project pipeline,' says Ralph Küchenthal, Management Board member at CMI AG. Further details on the IPO will be announced shortly. * A-cities: Berlin, Düsseldorf, Frankfurt/Main, Hamburg, Cologne, Munich and Stuttgart Press contact: Barbara Lipka Head of Communications Chamartín Meermann Immobilien AG Phone: +49 (0)30 308775 150 E-mail: barbara.lipka@cmi-ag.de Dariusch Manssuri IR.on AG Phone: +49 (0)221 91409 75 E-mail: dariusch.manssuri@ir-on.com This announcement does not constitute an offer to buy or subscribe for securities but is only an announcement of a possible offer. The possible offer does not constitute an offer to buy or subscribe for securities to any person in Australia, Canada, Japan, or the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the 'Securities Act') or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States. The announcement only serves advertisement purposes and does not constitute a securities prospectus. If the announced offer will be executed, investors should no purchase or subscribe for any shares referred to in this press release except on the basis of information in the prospectus to be issued by Chamartín Meermann Immobilien AG (the 'Company') in connection with the offering of such shares and approved by the German Financial Supervisory Authority (BaFin). Copies of the prospectus are available after publication free of charge from Chamartín Meermann Immobilien AG (SpreeKarree, Friedrichstraße 136, 10117 Berlin, Germany) or on the Company's website (www.cmi-ag.de). This announcement includes 'forward-looking statements', which are based on evaluations and assumptions made to the best knowledge by the management of Chamartín Meermann Immobilien AG. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which may lead to a considerable discrepancy of the earning and profit situation, value development or the results of Chamartín Meermann Immobilien AG from the earning and profit situation, value development or the result, which is expressly and implicitly described in these forward-looking statements. Considering the risks, uncertainties as well as the other factors, recipients of this press release should not inadequately rely on these forward-looking statements. Chamartín Immobilien AG does not take any obligation to currently adjust such forward-looking statements and to adjust them to future events and developments. 24.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Chamartin Meermann Immobilien AG Friedrichstr. 136 10117 Berlin Deutschland Phone: +49 (0)30 308 775 305 Fax: +49 (0)30 308 775 399 E-mail: info@cmi-ag.de Internet: www.chamartin.de WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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