PEUGEOT INVEST (EPA:PEUG) - Investment in SIGNA Development
Transparency directive : regulatory news
31/05/2021 19:13
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Press releaseNeuilly-sur-Seine, 31 May 2021
Peugeot Invest acquires a 5% stake in the real estate company
SIGNA Development Selection AG
Peugeot Invest has acquired a 5% stake in SIGNA Development Selection AG
("SIGNA Development") for EUR75m. SIGNA Development's strategy is to develop
high quality real estate projects in German-speaking European countries
(residential, office, and retail), the majority of which are located in top
city locations in Germany and in Austria, with the aim of marketing and then
selling them to investors (mainly pension funds and insurance companies).
As of December 31, 2020, SIGNA Development had more than EUR3bn of real estate
assets and offers attractive value creation prospects through the development
of real estate projects, which aim for environmental certifications. The group
has about 50 on-going projects for a total gross development value expected to
reach more than EUR8bn at completion.
Peugeot Invest will be involved in SIGNA Development's governance through
representation on the company's Supervisory Board and its Investment
Committee.
The acquisition was made from its majority shareholder, SIGNA Holding GmbH, an
Austrian group active in real estate and retail, founded by the Austrian
entrepreneur René Benko.
Commenting on this investment, Robert Peugeot, Chairman of Peugeot Invest,
said: " We have been a shareholder of SIGNA Development's sister company SIGNA
Prime for two years, which is dedicated to prime retail and office real estate
in the heart of city centers with a portfolio worth over EUR16bn. The real
estate team has demonstrated its agility and ability to find new and attractive
development opportunities. By supporting the growth of SIGNA Development,
dedicated to property development, we increase our exposure to those markets,
with an additional business line offering significant value creation. "
ABOUT PEUGEOT INVEST
Peugeot Invest is an investment company listed on Euronext, majority-owned by
Etablissements Peugeot Frères. Peugeot Invest is one of the leading
shareholders of Stellantis and Faurecia and pursues a minority-shareholding and
long-term investment policy. Peugeot Invest holds participations in listed
companies (SEB, ORPEA, LISI, SPIE), non-listed companies (International SOS,
Tikehau Capital Advisors, Acteon, Total- Eren), co-investments (IHS, JAB
Holding), private equity funds and real estate (SIGNA Prime Selection,
Immobilière Dassault).
INVESTOR RELATIONS
Sébastien COQUARD
sebastien.coquard@peugeot-invest.com
+33 1 84 13 87 20
PRESS CONTACT
Leslie Jung-Isenwater
ljung@image7.fr
+33 6 78 70 05 55
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