The Zurich Financial Services Group intends to float a new commercial Swiss real estate company
July 25th, 2007 by Ines
Zurich, October 6, 1999. - The Zurich Financial Services Group intends to transfer part of its Swiss commercial office real estate portfolio with a market value in excess of CHF 1 billion into a new company, called PSP Swiss Property Ltd., which will subsequently be listed on the Swiss Exchange. The Group’s Swiss real estate management subsidiary, Turegum Immobilien AG, will be integrated into the new venture. PSP Swiss Property is expected to be listed by way of an Initial Public Offering (IPO) within six months. The Zurich Financial Services Group plans to keep a minority stake of up to 40%.
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- Posted in Commercial Properties, Europe real estate, Switzerland