Swiss Prime site sells Wincasa for €237m to Implenia to cut debt

Swiss Prime Site has signed an agreement to sell its Wincasa group company to Implenia for €236.9 million ($257.7 million) and plans to use the proceeds to reduce its financial liabilities and strengthen its balance sheet.

“By selling Wincasa and the announced discontinuation of Jelmoli’s operations from the end of 2024, we will achieve maximum streamlining of our company,” said René Zahnd, Swiss Prime Site CEO. “We are now focusing on our excellent property portfolio and the fast-growing asset management business.”

Implenia will continue Wincasa’s operations.

“The acquisition is an excellent fit with our strategy for sustainable success – with a clear focus on stable service revenues across our value chain. We will benefit from Wincasa’s knowledge and customer relationships,” said André Wyss, Implenia CEO.