(Reuters) – Swiss real estate firm Ina Invest and its peer Cham group have signed a merger agreement, Ina said on Friday.
The merger will create one of Switzerland’s top 10 listed real estate companies, with a combined portfolio value of about 1.6 billion Swiss Francs ($1.78 billion), Ina said in a statement.
Once the deal is approved, Cham’s existing shareholders will receive 41.5 shares in Ina Invest for each share of Cham.
The new company, proposed to be named Cham Swiss Properties, will be led by Thomas Aebischer as its chief executive officer and Daniel Grab as the chief financial officer.
The directors of the combined company will define the new medium-term objectives as soon as the merger is completed, Ina said in a separate statement.
The companies did not share the value of the deal.
($1 = 0.8990 Swiss francs)
(Reporting by Angela Christy in Bengaluru; Editing by Sumana Nandy)
