ZURICH, Sept 23 (Reuters) - Swiss real estate company Ina Invest said on Monday it is considering a merger with its peer Cham Group, and that if talks are successful, shareholders of both firms will be able to vote on the plan in the spring of 2025.
Ina said the merger is to be carried out as a merger of equals and that a corresponding letter of intent has been signed by the boards of directors of both companies.
Swiss construction and real estate firm Implenia, which holds a stake of around 40% in Ina, said in a statement that it welcomed the talks.
Discussions between Ina and Cham about the potential merger are still at an early stage, Ina said.
"The potential merger would create one of Switzerland's leading real estate companies, with a high-quality, sustainable portfolio in prime locations," Ina added in a statement.
Between them, the two firms have investment properties and development projects in Basel, Cham, Geneva, Lausanne, Winterthur and Zurich, according to the statement.
Their combined portfolio would have a residential share of over 50% after completion, and the idea is to have the merged company trade on SIX stock exchange, it added.
Reporting by Oliver Hirt Writing by Dave Graham Editing by Rachel More
Source: Reuters