Ina Invest acquires CERES Group Holding Ltd. with attractive development site “Bredella” in Pratteln BL

Ad hoc announcement pursuant to Art. 53 KR

Glattpark (Opfikon), 16 December 2021 – Together with its investment partners, Ina Invest as majority owner takes over CERES Group Holding Ltd. belonging to Lucerne entrepreneur and investor Hermann Alexander Beyeler, complete with the “Bredella” development site in Pratteln, which is to be transformed from an industrial and commercial park into a lively urban district including 70% residential space in the next 20 years. The agreements were signed on 15 December 2021 and provide for the closing of the transaction in January 2022. The parties to the contract have agreed not to disclose the purchase price. By making this acquisition, Ina Invest has significantly accelerated its growth and strengthened its market position. 

“Bredella: industrial site with a hundred-year history to be transformed into a lively urban district
The core of the real estate portfolio of CERES Group Holding Ltd. is the Buss site at Pratteln railway station with the “Bredella” development project. With a surface area of 82,600m2 and a viable floor space of 172,500m2, the site is to be transformed into a lively central quarter with 70% residential space (more than 1,000 apartments) and 30% commercial space in the next 20 years. After the development, the market value of the property will increase from around CHF 300 million today to more than CHF 1 billion (including freehold apartment projects).

All of the acquired properties are now used commercially and generate an annual gross rental income of over CHF 8.6 million with a lettable area of 60,000m2. As such, they will enable a solid return on capital even during the development phase. Transformation efforts are already well advanced: there is a master plan for the entire site, and the housing development process is underway for the western section.

Hermann Beyeler finalises his business succession with the sale and becomes a shareholder of Ina Invest
Hermann Beyeler acquired the former factory site of Albert Buss & Cie from Georg Fischer Ltd. in 2001 and turned it into a prosperous industrial and commercial park that is now home to 100 companies that provide some 1,100 jobs. For the Lucerne entrepreneur and investor, the successful sale is the culmination of decades of development work: “It gives me great pride to be able to hand over this development project that is so important for the Basel region, passing it into new hands and finalising my business succession.”

With the acquired real estate portfolio, mortgages of around CHF 110 million will be transferred to the buyers. Part of the purchase price will be paid by Ina Invest in the form of shares from the authorised share capital (under exclusion of subscription rights) at a price of CHF 22.00 per share, which represents a premium of 17.9% compared to the closing price on 15 December 2021.  In total, Ina Invest transfers shares amounting to 10% of the current share capital to Hermann Beyeler, who thus takes a long-term stake in the company: “I look forward to remaining associated with the ‘Bredella’ project and helping to shape the development of Pratteln as a residential community.”

Accelerated growth and new lighthouse project for Ina Invest
For Ina Invest, the acquisition represents a significant milestone. Compared to the business plan communicated at the time of the IPO, which envisages annual acquisitions of CHF 50 million, the company will be able to significantly accelerate its growth and strengthen its position in Northwestern Switzerland in the long term. This transaction increases the current market value of the company’s real estate portfolio to almost CHF 700 million, giving Ina Invest one of the largest development portfolios in Switzerland.

The investment in Pratteln is in line with Ina Invest’s strategy and its focus on hybrid real estate. In addition to Lokstadt in Winterthur, which is already at a very advanced stage, Ina Invest now has another lighthouse project for sustainable site development in Northwestern Switzerland: “By transforming this industrial and commercial site into a mixed-use district, we will be meeting the demands of Swiss population growth to the 10-million mark while at the same time providing much needed commercial space in Pratteln”, says Ina Invest CEO Marc Pointet. “Points in favour of the location include Pratteln’s excellent transport links as well as an increasing trend towards inward densification that is strengthening urban agglomerations. We want to tap into this area’s enormous potential and – particularly in view of its rich history – lead it into an ‘inavative’ future as a lively and versatile space for homes, jobs and living.”

The 17 employees of Buss Immobilien und Services Ltd. will be taken over by Ina Invest and will continue to be responsible for the administration and maintenance of the Buss Industrial Park. In the course of development, the current tenants will be offered suitable space to allow them to remain on the site. HRS Real Estate Ltd., which was previously responsible for the “Bredella” project development and played a significant role in the success of the transaction, will realise around 50% of the planned construction sum as a general contractor. Ina Invest will hand over further project development to its partner Implenia, which will also carry out 50% of the construction volume. Ina Invest CEO Marc Pointet looks forward to the cooperation: “The combination of HRS and Implenia promises a unique blend of development and execution expertise in a project that is of great importance to both Ina Invest and the Pratteln region.”
 
Daniel Baumann to become CFO of Ina Invest as of 1 January 2022 
In view of the company’s rapid growth and in order to strengthen its core competencies, the Board of Directors of Ina Invest decided on 15 December 2021 to appoint Daniel Baumann as Chief Financial Officer (CFO). The business economist and Swiss certified public accountant has worked for Implenia since 2013, most recently as Business Partner Finance in the Division Real Estate. Since the spin-off and IPO in June 2020, he has also supported Ina Invest in all business management matters and played a key role in shaping the company. Daniel Baumann will take up his new role as CFO of Ina Invest on 1 January 2022.

Further information on the Buss site and the “Bredella” project
www.bussimmobilien.ch
www.bredella.ch

Contact for investors and analysts
Marc Pointet, CEO
T +41 44 552 97 00
investors@STOP-SPAM.ina-invest.com

Contact for media
Bantel & Partner Ltd., 8008 Zürich
Andreas Bantel, Partner
T +41 79 231 56 62
andreas.bantel@STOP-SPAM.bantel.ch

Ina Invest is a Swiss real estate company created from the spin-off of half of Implenia’s development portfolio. Ina Invest is developing this initial set of projects in order to build up a portfolio of profitable properties, while continuing to make acquisitions to secure future growth. The properties have a varied usage profile, with a primary focus on residential developments, and are in very good locations all over Switzerland. Ina Invest plans to continue investing in and growing its portfolio. Thanks to its transparent collaboration with Implenia, Ina Invest benefits from the expertise of Switzerland’s leading construction and real estate services provider. In the development and management of its portfolio, Ina Invest maintains the highest sustainability standards by taking a holistic view of the entire value chain and integrating sustainability across all phases. The company is listed on the SIX Swiss Exchange (INA, CH0524026959). More information can be found at ina-invest.com.