Investis signed an agreement to sell its entire Real Estate Services business to the Finnish PHM Group Holding Oy’s subsidiary PHM Group Oy. The enterprise value amounts to €247.5 million ($265.9 million).
“The sale of all of Investis Group’s real estate services companies represents an excellent development opportunity for this business. PHM Group is an experienced pan-European real estate services provider active in Finland, Sweden, Norway, Denmark and Germany. Investis will now focus on further developing its excellent property portfolio,” said Stéphane Bonvin, CEO of Investis Group.
With the sale, Investis will acquire a minority stake in PHM Group TopCo Oy for a total of CHF 50 million ($56 million).
In the future, Investis will focus on its property portfolio. Purchase contracts for CHF 201 million ($224 million) with a gross rental income of CHF 12.5 million ($14.0 million) have been signed.
