Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 35 n°32

Posts Tagged ‘catella’

Catella takes further steps towards a simplified structure through the return of the banking license and sale

Posted by fidest press agency su martedì, 11 gennaio 2022

As previously communicated, a decision on the withdrawal of authorization as a credit institution from the ECB was expected at the end of 2021. This decision was received during the fourth quarter of 2021 and means that Catella is no longer under supervision as a credit institution.Furthermore, in reference to the press release distributed on 2020-06-10, Catella has used the right to sell the remaining 30 percent of the shares in Catella Fondförvaltning AB for SEK 60 million to Athanase. “I am pleased that we have taken additional steps on our journey towards a real estate focused company. Looking ahead we can fully allocate our resources to developing and growing our three business areas: Catella’s market leading Corporate Finance advisory services, Property Investment Management with assets under management of SEK 112 billion, and our own Principal Investments of SEK 800 million in development projects across Europe” says Christoffer Abramson, CEO at Catella.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Extendam Cedre and Catella Hospitality Europe acquire the iconic Hotel La Pérouse in Nice

Posted by fidest press agency su domenica, 21 novembre 2021

A joint-venture led by Catella Hospitality Europe (CHE), Extendam and Cèdre has acquired the Hotel La Pérouse, a legendary boutique-hotel in Nice overlooking the famous “Baie des Anges”. This new acquisition is motivated by the unique features of the hotel as well as the demonstrated dynamism of Nice to be further consolidated with its recent UNESCO heritage site award.Nestled on the “Colline du Château”, at immediate vicinity from the old town of Nice, the Hotel La Pérouse offers a high-end experience to guests thanks to its exclusive environment and tailored services. Located on the famous “Promenade des Anglais”, the hotel features 56 rooms and suites, most of which with private terraces or balconies offering bird’s-eye views over the Mediterranean Sea. Nice – “the winter resort town of the French Riviera” – constantly ranks among the most visited cities in France and earned in May 2021 the UNESCO world heritage status which will further boost visitation in the coming years. Tourism is deeply rooted in the city’s DNA, which offers landmarks such as the Promenade des Anglais, Matisse and Chagall Museums, the Castle of Nice, the flower market, etc. A highly leisure-driven hotel market, Nice is poised for quick recovery post-pandemic. The summer period this year already marked a real boost in terms of hotel demand, with the overall Côte-d’Azur hotel market achieving a performance above that of 2019.Catella Hospitality Europe, Extendam and Cèdre intend to reposition the Hotel La Pérouse as Nice’s best luxury boutique hotel. In partnership with an internationally-renown designer, the new owners will fully renovate the property and enhance all common areas, to fully capitalize on the asset’s unique specificities and authenticity. A key element of the renovation program will be to create new attractive food and beverage outlets, appealing to the local community and visitors alike.Buy-side counsels working on the transaction were Arago, Chevreux (notary), Hoche Avocats, NS Associés, Capstan, and Delpha Conseil. EXTENDAM is a French independent asset management company dedicated to private and institutional investors, regulated by the AMF (the French financial markets authority). Since inception, our funds have invested in more than 250 hotels across EMEA, representing a combined asset value in excess of €2.4 billion. We partner with global operators and franchisors, white label management companies as well as local hoteliers in order to create value for our investors through active asset management. For more information: Follow us on LinkedIn an Twitter : EXTENDAM et @EXTEND_AM Cèdre is a family-owned investment holding company, targeting French companies with strong growth potential. For more than 20 years, Cèdre has supported the development of meaningful projects by investing in promising companies. Cèdre invests tickets from €2 million to €15 million, either alone or in co-investment, without time constraints. Cèdre owns several hotels in Paris and on the Mediterranean coast. For more information: Catella Hospitality Europe (CHE) invests and assists investors from the sourcing, structuring, and managing of tailored hotel investment opportunities, assessing, and executing each opportunity in order to create the optimum Risk/Reward. Based in Paris, the team has structured deals and managed properties in France and across other main European countries (the United Kingdom, Germany, Spain, Belgium, Poland etc.). CHE was launched in June 2019. For more information:

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Catella Corporate Finance Denmark secures 619 MDKK in long term debt facilities for Park Street A/S

Posted by fidest press agency su mercoledì, 13 ottobre 2021

As exclusive financial advisor to Park Street A/S (the “Company”), Catella has secured strategic non-recourse debt facilities allowing for the refinancing of all of the Company’s short-term debt, the development of the Company’s second Copenhagen Student/Youth Living property, Pulse N, and enhancement of the Company’s general capital position. Catella has a unique access to local and international cross-border debt capital providers including banks, debt funds and other non-bank lending institutions for all types of debt financing of real estate across the property life cycle and capital stack. Catella has a long and proven track record and is ideally positioned to structure, arrange and secure debt solutions for our clients.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Andreas Wesner new Managing Director in Catella Real Estate AG

Posted by fidest press agency su venerdì, 8 ottobre 2021

Andreas Wesner has been appointed as Managing Director and spokesperson at Catella Real Estate AG (CREAG). He will start his new position on the 1st April 2022. Andreas Wesner has long and extensive experience from the German and European property market and regulated fund operations. He joins Catella from a role as Head of Transactions – Northern Continental Europe at LaSalle Investment Management. Prior to LaSalle, Andreas has worked in investment management and acquisitions in AXA Investment Managers, The Carlyle Group, and Merrill Lynch Management. “We are delighted to welcome Andreas Wesner to the CREAG team. CREAG plays a key role in Catella Property Investment Management’s growth strategy and Andreas’s broad competence and experience supports the execution of future growth and expansion of CREAG”, says Timo Nurminen, Head of Property Investment Management at Catella.CREAG is Catella’s full-service property fund management platform based in Munich. The open-end fund operation is active in the areas of real estate fund management and real estate investment advice. Since 2007, when the company was established, it has grown to one of the leading investment managers in Germany with AUM of EUR 6,3 Bn and staff of 94.“I am excited about the new challenges and the opportunity to join CREAG and its talented team. My past 20 years in the field of property investments in Germany and Europe will provide a good platform to develop and continue CREAG’s journey towards a leading pan-European investment manager”, says Andreas Wesner. Andreas Wesner will take up the position as Managing Director at CREAG on 1st April 2022. The appointment is subject to the approval of Federal Financial Supervisory Authority (BaFin).

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella Interim Report January – June 2021

Posted by fidest press agency su venerdì, 20 agosto 2021

Catella’s core operations are developing well and we continue to make progress in important strategic areas. We increased assets under management, completed several major principal investments and were a very active partner on a strong property transaction market. As a result, total income adjusted for operations being divested or wound down increased by 17 percent to SEK 478 M. Adjusted operating profit (EBIT) also improved significantly to SEK 113 M, and increased by 55 percent year-on-year.The strongest drivers behind this improvement are continued growth in assets under management in Property Investment Management (PIM) and a very strong quarter for Corporate Finance, where Catella acted as advisor on several major transactions.Catella’s investments in the Principal Investments business area continue to make good progress and we announced five new projects in Sweden, Germany and Spain in the quarter. No properties were divested in the quarter, and accordingly the business area did not recognize any income.As previously communicated, the winding down of IPM’s operations is progressing as planned, which reduced operating profit/loss for the quarter by SEK 103 M, of which goodwill impairment amounted to SEK 39 M. In June, Catella submitted an application to return Catella Bank’s license to CSSF and a decision is expected in the second half of this year. This resulted in Group operating profit/loss, including operations in divestment or being wound down, of some SEK -31 M. Assets under management increased to SEK 112 Bn, an increase of nearly SEK 15 Bn year-on-year adjusted for the divestment of CAM France. The increase was primarily driven by inflows to residential funds and new mandates in the British asset management business. Operating profit/loss for the quarter was SEK 84 M, an increase of over 10 percent driven by the sustained increase in fixed management fees (+7%) and a larger share of performance fees. Development of three new funds started in the quarter, including CRIM Elithis Towers residential fund with a focus on developing energy positive residential housing across Europe, and we are already noticing interest from investors.In the first half of 2021, PIM’s assets under management increased by SEK 11 Bn (adjusted for the divestment of the French Asset Management operations), and has returned average annual growth of 31% since 2015.Demand for residential and logistics properties remains strong, and the Principal Investments business area announced new projects in and after the end of the quarter. These included a project in central Düsseldorf where Catella will be developing a new landmark focused on sustainability, energy efficiency and modern working. After the end of the quarter, we also announced a fourth project through partly owned Infrahubs. A logistics property of approximately 25,000 m2 will be completed in the commercial node of Ljungby, fully let to PostNord TPL AB with a rental agreement spanning 10 years. Like in previous projects, construction will be characterized by sustainable methods and materials, and energy efficiency.Principal Investments’ total development projects amounted to close to SEK 2.7 Bn in total investments at the end of the quarter, of which SEK 688 M was comprised of Catella’s capital and shareholder loans. This corresponds to an increase of SEK 1.2 Bn and SEK 0.4 Bn on the previous quarter.As usual, the second quarter was intensive in terms of transactions, and Catella presented one of its strongest quarters ever. Income increased by close to 80 percent to SEK 188 M and operating profit/loss improved to SEK 43 M (-3).Catella Corporate Finance acted as advisor in connection with several major transactions across all major markets. We saw the highest activity in Sweden and France, where the breadth of Catella’s offering was reflected in assignments where we acted as transaction advisor for commercial and residential properties, and offered debt and IPO related advisory services. It is very satisfying to see all the hard work pay off after a challenging year for transactions during COVID-19, particularly in large transactions such as the divestment of Biblioteksparken A/S in Denmark and Studentbostäder i Linköping AB. We continue the work of developing a total offering in all major markets in Europe.

Posted in Estero/world news | Contrassegnato da tag: , | Leave a Comment »

Catella AB (publ) recommends, together with other owners, to cease the operations of IPM

Posted by fidest press agency su venerdì, 23 aprile 2021

Informed Portfolio Management (“IPM”) ceases its investment operations and will return all capital to its investors.IPM has a long history as one of the leading global systematic macro managers with strong long-term returns with low correlation to both equities and bonds. The recent investment market for systematic macro-funds has unfortunately been very challenging and IPM has had weak returns and large capital outflows. Catella has therefore, together with the board of IPM, made the difficult decision to recommend that IPM ceases all investment activities and return the capital to the investors. A majority of IPM’s owners are expected to support this recommendation at an upcoming Extraordinary General Meeting.IPM will ensure that all investors are treated fairly. This includes that all investors will be able to redeem their capital in the coming months according to each fund’s specific liquidity rules. The closure of IPM will have a negative effect on Catella’s earnings attributable to the parent company’s shareholders in Q2 2021 with approximately SEK 102,5 million, of which SEK 38,6 million relates to write-off of goodwill and SEK 63,9 million from other wind-up costs.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella Property Asset Management let 1600 sq m office space on a 10 year term at Valla Park, Sundbyberg

Posted by fidest press agency su lunedì, 12 aprile 2021

Catella Property Asset Management (“CPAM”) has completed a 1600 sq m office letting at Lådmakaren 3 (“Valla Park”) in Sundbyberg, Stockholm on behalf of an international client.The letting has been signed with Lokalfastigheter i Sundbyberg AB. The space will be used by S:t Martins Gymnasium and fit out with facilities that focus on beauty procedures, such as hair and nail styling.CPAM has acted as asset manager at Valla Park since January 2020. Within the mandate CPAM has completed several lease extensions and created a significant uplift in value at the property, during what has been a difficult time for business confidence and the real estate industry.Michael Johansson, Managing Director at CPAM, commented: “We are pleased with the implementation of our asset management strategy for Valla Park since our mandate begun in 2020. To have signed such a lease during these times reflects our commitment to our client and the tenant.”

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Christoffer Abramson new CEO and President at Catella AB (publ)

Posted by fidest press agency su sabato, 27 febbraio 2021

”The Board of Catella is delighted to announce the appointment of Christoffer Abramson to the position of CEO of Catella Group. Over the past four months, Christoffer has not only transformed our finance function but also helped us accelerate our strategic repositioning toward a more focused Catella within real estate. With a strong combination of transforming organizations, improving financial efficiency, and driving profitable growth strategically and tactically through controlled risk, we are certain that Christoffer is the right person to take Catella to the next level. I have enjoyed working closely with Christoffer and look forward to working with the entire Catella team as member of the Board after a transition period during the spring.” says Johan Claesson, acting CEO, board member and main owner.”I am honoured and incredibly excited to have been asked by the Board to continue to work with the entire Catella team as CEO. There is enormous potential and competence within Catella and I am immensely proud to work with such entrepreneurial and ambitious people. Catella’s over 550 employees all work together with strong momentum to deliver creative solutions to all our partners and customers along the value chain of real estate and alternative investing. I would like to thank Johan Claesson and the rest of the Board for patiently guiding me into the Catella Group. Our goal is now to deliver strong growth to our customers and investors alike by strengthening our core offerings and by leveraging all our products and services even more across Europe.” says Christoffer Abramson, CFO and incoming CEO.Prior to joining Catella Group as Chief Financial Officer, Christoffer was part of building a global real estate group within EF based in the USA. He earlier worked as an operating executive for several Private Equity funds in London and Paris. Christoffer began his career at General Electric where he spent 10 years in various roles, most recently as CFO of GE Real Estate in London.Necessary approval is required from the regulator CSSF in Luxembourg before final access can take place.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella AB (publ) avyttrar sin Property Asset Management-verksamhet i Frankrike

Posted by fidest press agency su domenica, 31 gennaio 2021

Catella AB (publ) avyttrar 50,1 procent av aktierna i sitt franska dotterbolag Catella Asset Management SAS för en kontant köpeskilling om 154 mkr. Avyttringen medför en positiv resultateffekt efter skatt, inkluderat transaktionskostnader, om cirka 122 mkr under första kvartalet 2021.Catellas varumärke är starkt och den franska marknaden är strategiskt viktig för Catella och därför kommer Catella vidareutveckla sin position inom Asset Management i Frankrike. Catella undersöker möjligheter att etablera nya verksamheter med potentiella nya lokala partners. Catella och den lokala ledningen, tillika minoritetsägare, har under processen utvärderat flertalet alternativ avseende minoritetens aktier. Catella beslutade att avyttra sina aktier gemensamt med minoritetsägarna eftersom detta anses vara det bästa alternativet för moderbolagets aktieägare.Catella ökar allt mer sitt fokus mot fastighetssektorn och har en stark tillväxtagenda. Catellas affärsområde Property Investment Management har under de senaste fem åren vuxit snabbt genom att expandera på nya europeiska marknader och ökat förvaltat kapital till 116,5 mdkr per sista September 2020, vara av förvaltat kapital inom Property Asset Management-verksamhet i Frankrike uppgick till 14,8 mdkr. ”Frankrike är en stor och viktig marknad för Catella som redan verkar på marknaden med ledande positioner inom Corporate Finance och Property Asset Management inom Hotell och Logistik. Vår ambition är att ha ett full-service erbjudande i Frankrike tillsammans med ett starkt lokalt Asset Management-team som passar Catellas affärsmodell samt kultur- och tillväxtambitioner.” säger Timo Nurminen, affärsområdeschef för Catella Property Investment Management.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella AB (publ) divests its Property Asset Management-operations in France

Posted by fidest press agency su domenica, 31 gennaio 2021

Catella AB (publ) divests its 50.1 percent holdings in its French subsidiary Catella Asset Management SAS for a cash purchase price of SEK 154 million. The divestment will have a positive effect on profit after tax, including transaction costs, of approximately SEK 122 million during the first quarter of 2021.Catella’s brand is strong and the French market is strategically important to Catella and therefore Catella will further develop its position in Asset Management in France. Catella is already exploring ways to establish new operations with potential new local partners. During the process, Catella and the local management, who are also minority owners, have evaluated several alternatives regarding the minority’s shares. Catella decided to sell its shares jointly with the minority shareholders as this is considered to be the best option for the parent company shareholders.Catella is becoming increasingly focused in the property sector and has a strong growth agenda. Catella’s business area Property Investment Management has grown rapidly over the past five years by expanding into new European markets and increased assets under management to SEK 116.5 billion as of last September 2020, of which assets under management from the Property Asset Management-operations in France amounted to SEK 14.8 billion.“France is a large and important market for Catella who is already operating in the market with leading positions in Corporate Finance, Hospitality investment management and Logistic development services. Our ambition is to have a full-service property offer in France together with a strong local Asset Management-team that fits the business model and aligns with Catella’s culture and growth ambitions.” Timo Nurminen, Head of Catella Property Investment Management comments.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Athanase’s acquisition of the shares in Catella Fondförvaltning AB completed

Posted by fidest press agency su domenica, 27 settembre 2020

In accordance with a press release on June 10, 2020, Athanase Industrial Partners (“Athanase”) acquisition of 70 percent of the shares in Catella Fondförvaltning AB from Catella AB (publ) was subject to customary regulatory approvals by the Swedish Financial Supervisory Authority and CSSF in Luxembourg. All approvals have now been obtained and the acquisition has been completed.The final consideration amounts to SEK 140 million and the total effect on profit after tax, including transaction costs, amounts to SEK -9 million of which costs of SEK 7 million were reported during the first half of 2020. The effect on profit after tax, including transaction costs, amounts to SEK -2 million during the third quarter 2020.The strategic partnership between Catella and Athanase, through which Catella Fund Management AB intends to develop and improve the customer offering, is ongoing. During January 2022 Catella has the right to divest and Athanase the right to acquire the remaining 30 percent of the shares for a purchase price of SEK 60 million.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Christoffer Abramson new CFO at Catella AB

Posted by fidest press agency su venerdì, 28 agosto 2020

Christoffer Abramson has been appointed Chief Financial Officer and member of Group Management at Catella AB (publ). Christoffer most recently comes from a role as CFO at EF Real Estate Holdings in Boston. In his role within the EF Group, Christoffer has been involved in building a global Real Estate group based in the USA. Prior to that, he worked as an operating executive for various Private Equity-funds in London and Paris. Christoffer started his career at General Electric where he worked for 10 years in various roles, most recently as CFO of GE Real Estate in London.”In Christoffer, with his solid background and experience in the international Real Estate sector, Catella gets an important contribution to further develop the business and ensure future growth.” says Johan Claesson, acting CEO and President of Catella AB.Christoffer Abramson will take up the role of CFO at Catella on 15 October 2020. The appointment is subject to the approval of the Supervisory Authority in Luxembourg, Commission de Surveillance du Secteur Financier.

Posted in Economia/Economy/finance/business/technology, Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella establishes Catella Hospitality Europe – a specialized Asset Manager and Operating Partner

Posted by fidest press agency su mercoledì, 18 settembre 2019

Catella Property Investment Management establishes Catella Hospitality Europe (CHE), in partnership with Pierre-Louis Bellanger, Rodolphe Frégé and Maxime des Monstiers, in order to address the fast growing hotel investment market. The company will assist investors in sourcing, structuring and managing tailored hotel investment opportunities.The European hotel investment market keeps on growing thanks to excellent tourism fundamentals. Such positive dynamics have rallied real estate investors towards this attractive alternative asset class which offers higher yields and solid returns. However, those who seek to gain hotel exposure often lack in-house expertise. On their behalf, CHE will identify investment worthy opportunities and manage them, acting as operating partner, in order to optimize their return on investment.CHE will serve both Core and Value-Add investors with turnkey investment and asset management services. The scope of missions will range from stabilized assets monitoring up to turnaround including capex, rebranding and management optimizations. The team has a distinctive experience in maximizing investor’s value all along the holding period and can take direct control over operations.“Establishing the Catella Hospitality Europe (CHE) is a logical step in Catella’s strategy. Building a strong dedicated team for this segment is the key driver for success. Pierre-Louis, Rodolphe and Maxime bring us an unique sector competence in this field.” says Timo Nurminen, Head of Catella Property Investment Management.“It is great to join forces with Catella and benefit from its long-lasting relationship with most European Real Estate investors. The group’s focus on the development of Investment Management Platforms will enable us to work along country specialists present in 9 European countries. We will offer our hotel expertise to Real Estate investors willing to address one of the most promising asset class on today’s real estate market. We will follow the entrepreneurial mindset that has enabled the success of Catella’s teams around us.” say Pierre-Louis Bellanger, Rodolphe Frégé and Maxime des Monstiers, Co-founding Partners of Catella Hospitality Europe.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Catella financial advisor to Tetris A/S in finding investor and capital partner to support ambitious growth plans

Posted by fidest press agency su domenica, 25 agosto 2019

Catella Corporate Finance has acted as exclusive financial advisor to Tetris A/S in the sale of 50% of the shares in the company to NREP. Simultaneously NREP will provide capital to execute ambitious growth plans within concept-driven property development including development of 1,000 units of community-driven senior housing.Tetris A/S has 60 employees within the complimentary business lines of real estate investment and development, project management and advisory services, and construction steering. Through a data-driven and analytical approach founded on scientific research and thorough demographic analysis, Tetris A/S has created the senior co-living platform VoksenPlus. The concept is designed to improve social relations and address loneliness among seniors by emphasizing on community creation.In order to scale up and rapidly roll-out the newly developed concept, NREP has become the new co-owner and capital partner to Tetris A/S and will help amongst other help expand the VoksenPlus concept across the Denmark by funding an ambitious 5-year pipeline of 15 locations, totalling 80,000 sq.m and 1,000 rental units.“Tetris A/S has been effective in developing attractive real estate concepts and projects by being on the forefront of industry trends and successfully forecasting end-user desires. Their concept VoksenPlus targets a mega-trend with significant potential in Denmark as more than 80,000 seniors consider moving into senior housing communities within the next five years. We are proud of the trust shown to Catella by the partners at Tetris A/S in this very important strategic move for the company. We do believe partnering up with NREP – one of the leading Nordic Private Equity investors in the Real Estate Industry will be a strong match to support the ambitious future business plan. Finally thank you to Plesner providing strong corporate M&A as well as real estate experience important to secure the successful outcome of this transaction. At Catella, we are focused on being the link between property and finance, and we feel well-positioned across the Nordics as we expect to see more platform driven transactions in the real estate sector”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.

Posted in Economia/Economy/finance/business/technology, Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella’s divestment of Card Issuing operations completed

Posted by fidest press agency su mercoledì, 3 aprile 2019

Catella Bank S.A., a wholly owned subsidiary of Catella AB (publ), announced that it had entered into an agreement to divest its Card Issuing operations in Luxembourg to Advanzia Bank S.A. The transaction is now completed and the fixed consideration amounts to, as previously communicated, SEK 126 Million with an additional earn-out structure with a maximum potential of approx. SEK 240 Million.As previously communicated, Catella expects approximately SEK 126 Million to accrue to Catella regarding the earn-out. The earn-out will be reported at the end of 2019 or at the beginning of 2020. The transfer of card customers according to the agreement with Advanzia Bank S.A. will take place during 2019 and up to the beginning of 2020 to ensure that the maximum number of customers is part of the transaction.The balance sheet total of Catella Group will decrease by approximately SEK 350 Million in connection with the transaction as both assets and liabilities will be transferred.The divestment of the Card Issuing operations is a result of the completed strategic review of Catella’s banking operations. The purpose of the strategic review was to exit the consolidated situation due to the extensive regulatory framework and inefficient capital structure it entails.

Posted in Economia/Economy/finance/business/technology | Contrassegnato da tag: , , | Leave a Comment »

Catella’s divestment of Wealth Management operations in Luxembourg concluded

Posted by fidest press agency su mercoledì, 13 febbraio 2019

On October 26, 2018, Catella Bank S.A., a wholly owned subsidiary of Catella AB (publ), announced that it had entered into an asset transfer agreement to divest its Wealth Management operations in Luxembourg to VP Bank (Luxembourg) SA. The transaction is now completed and the final consideration amounts to SEK 95 million.The consideration was dependent on certain conditions related to assets under management on the transaction date, and as the transaction is completed, the final purchase price has been set at SEK 95 million against previously communicated approximately SEK 110 million. The difference is mainly due to the fact that the assets under management decreased due to the weak market development.
The divestment of the Wealth Management operations in Luxembourg is a result of the now completed strategic review of Catella’s banking operations. The purpose of the strategic review was to exit the consolidated situation due to the extensive regulatory framework and inefficient capital structure it entails.

Posted in Economia/Economy/finance/business/technology, Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella and Söderberg & Partners in strategic partnership

Posted by fidest press agency su domenica, 16 dicembre 2018

Catella Bank S.A., a subsidiary to Catella AB (publ), has entered an agreement to divest 51% of the Wealth Management operations in Sweden to Söderberg & Partners for approximately SEK 36 Million. Catella’s ownership in the joint venture structure is expected to generate positive cash flow which is an important part of the value of the transaction. The parties will also enter a strategic partnership. Catella will continue to develop alternative investment products to this client segment for the entire wealth advisory industry.As part of the strategic review of Catella’s Banking operation Catella has evaluated various options for the Swedish Wealth Management operation and found the optimal conditions, for customers and employees, in Söderberg & Partners who is a partner and employer with a strong and long-term offering. Entering a strategic partnership ensures customers will be served by their trusted advisor on a competitive platform as well as it is an important step for Catella in the ambition to exit the consolidated situation and thereby improve capital and operational efficiency. The Söderberg & Partners Group is today one of Sweden´s and Scandinavia´s leading advisors within insurance and financial products and has approximately 1 800 employees around Europe.
“Söderberg & Partners is a strong and credible partner and I see great opportunities in our partnership. With this transaction Catella takes another important step towards a more efficient capital-structure and less extensive regulatory framework,” Knut Pedersen, CEO of Catella Group, comments.“The partnership with Catella, as the reputable company it is, will give us great ability to develop our offer further. I am sure that our combined competences will provide synergy and even greater benefits for Söderberg & Partners, Catella and our respective customers”, says Gustaf Rentzhog, CEO of Söderberg & Partners.In connection with the deal, Catella and Söderberg & Partners have entered into a call and put option agreement under which Catella is being granted a put option to sell their shares in the joint venture to Söderberg & Partners and Söderberg & Partners are being granted a call option to acquire the joint venture shares of Catella in 2024 at a price to be calculated through a pre-set formula depending on future profit development.The balance sheet total of Catella Group will decrease by approximately SEK 1 Billion in connection with the transaction as both assets and liabilities will be transferred. Catella will consolidate its 49% share of the joint venture as an associated company in accordance with the equity method when the transaction is closed which is expected to be completed during the first half of 2019.

Posted in Economia/Economy/finance/business/technology, Estero/world news | Contrassegnato da tag: , , | 1 Comment »

Catella completes the purchase of 75% in APAM

Posted by fidest press agency su domenica, 16 dicembre 2018

Catella AB (publ) (“Catella”) completes, through a subsidiary, the previously announced transaction to acquire 75% of leading UK real estate investment and asset management company, APAM Ltd (APAM). As announced in March 2018 Catella agreed to acquire 75% of the shares in APAM for a price corresponding to GBP 18 million, on a debt and cash free basis. Catella is now completing the transaction, and APAM is consolidated as a subsidiary in Catella Group, since necessary regulatory approval has been obtained from the financial supervisory authority in Luxembourg, Commission de Surveillance du Secteur Financier (CSSF). APAM has experienced fast growth over recent years and had revenues of approximately GBP 7 million during 2017.
“The UK is a key strategic market for us where we see significant investment interest from our clients, particularly from our Asian office. APAM is a leading business in its space with exceptional knowledge of real estate markets across the UK and an impressive track record of delivering strong returns for its clients. With this deal we strengthen our pan-European platform and local expertise giving us a competitive edge across Europe.” Knut Pedersen Group CEO of Catella comments.APAM is an independent real estate investment and asset manager operating exclusively in the UK market with a combination of skills to offer clients an ‘end to end’ approach to support their investment strategy. APAM has assets under management (“AUM”) of GBP 1.4 billion and 41 employees. Simon Cooke and William Powell, founders and executive directors of APAM, will remain shareholders in APAM and have committed to the company for at least another five years. Catella APAM will continue to be independently run by its current management team and to pursue its successful growth strategy within UK.“Catella Property Investment Management has continuously strengthened its competitive position in Europe and has experienced an annual cumulated growth rate (CAGR) in AUM of 31 % during the last three years. This transaction further strengthens our position as we reach AUM volume of EUR 8,1 billion” says Timo Nurminen, Head of Property Investment Management at Catella.“The UK remains a hub for capital deployment throughout Europe and our deal with Catella reflects the UK’s continued prominence for global investment amongst institutions, sovereign funds and private investors. We relish the next phase of APAM’s growth within the outstanding Catella European Platform.” Simon Cooke and William Powell, founding shareholders and executive directors of Catella APAM said.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella advises Bonava in sale of turnkey project in Køge Coast to PFA Pension

Posted by fidest press agency su mercoledì, 3 ottobre 2018

Catella Corporate Finance has acted as exclusive financial advisor to Bonava Danmark A/S in the sale of an approx. 12,500 sq.m. turnkey residential project in Køge Coast, Denmark, to PFA Pension.Bonava, a leading Northern European residential development company, has divested a residential turnkey project of approx. 12,500 sq.m. to the Danish pension company PFA.The project is located in Køge Coast, Greater Copenhagen, and hence constitutes an integrated part of a substantial urban development project led by the joint venture partnership between the Municipality of Køge and the Danish philanthropic association, Realdania By & Byg. The partnership aims at developing a modern and sustainable new district between Køge’s city centre and the coast line.Bonava develops a total of 137 modern, high-quality apartments, including 12 senior friendly apartments, shared roof terraces, and recreational areas, which will contribute to the establishment of Køge Coast as an attractive new neighbourhood for citizens, businesses, and investors.Having formerly served as the city’s commercial port, Køge Coast is currently undergoing a substantial transformation into becoming a diverse and unique urban neighbourhood that will enhance Køge as a significant growth area, while relieving the massive pressure on the Copenhagen housing market.“As a result of the continuous upward pressure on prices on the housing market in Copenhagen, the demand for alternative residential locations has increased, positioning Køge as an ideal alternative. Apart from Køge’s proximity to Copenhagen, residents will benefit from Køge’s idyllic recreational nature, modern and historical city centre as well as the excellent infrastructure adding to the city’s potential and positioning it well for further future growth”, says Jesper Bo Hansen, Head of Corporate Finance at Catella.The project is developed in collaboration with the Danish architect Danielsen Architecture and Bonava will deliver it to PFA in stages during 2020.“As their financial advisor, we appreciate the trust and the mandate given to Catella by Bonava. The development of Køge Coast has just begun, and we look forward to experiencing the full potential of Køge Coast unfold”, says Jesper Bo Hansen.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Catella advises Coop in mega transaction in Aarhus

Posted by fidest press agency su mercoledì, 20 giugno 2018

Catella Corporate Finance has acted as financial advisor to Coop in the sale of an attractive 131.300 sq.m. real estate portfolio in Aarhus to Dades A/S.Coop, one of Denmark’s largest retail companies, has sold a 131.300 sq.m. business-, campus- and retail portfolio in Aarhus South to one of Denmark’s largest privately held real-estate companies Dades A/S. Dades A/S is owned by Novo Holdings, Tryghedsgruppen and Aase and Ejnar Danielsen’s Fund.For more than a century, Coop has owned and operated businesses in and around Aarhus South; and since 1996, they have managed to successfully develop and convert properties previously used for their own purposes. The significant investments that Coop has made, have turned the quarter into a modern business, campus and retail destination and have been pivotal in turning Aarhus South into the vibrant, active and modern neighbourhood that it is today.Catella Corporate Finance conducted a structured bidding process that has proven successful and generated significant amounts of interest among both Danish and international investors.“The successful transformation of the area that Coop has patiently officiated has clearly been instrumental in bringing this solid investment case to life”, says Jesper Bo Hansen, Head of Corporate Finance at Catella. He, too, points out that Catella has complete faith that Dades will manage and continuously develop the area of great benefit to tenants, retailers and the millions of visitors that frequent the neighbourhood every year.Historically, the transaction is one of the largest ever carried out in Aarhus. Due to the size of this mega transaction, the final closing is dependent upon the Danish Competition and Consumer Authority’s approval.“We appreciate the trust that Coop has shown Catella and we are pleased that we have been able to successfully execute the sales process of this portfolio that has been in Coop’s ownership for more than a century”, says Jesper Bo Hansen and acknowledges the divestment as an insightful and strategic decision in line with Coop’s focus on investing in their core business, including digitalization and modernization of their retail stores.

Posted in Economia/Economy/finance/business/technology, Estero/world news, Uncategorized | Contrassegnato da tag: , , | Leave a Comment »