Investis (IREN) M&A Announcement summary

Deal rationale and strategic fit

• Sale of the entire real estate service business to PHM Group enables a strategic focus on the property portfolio.

• Acquisition of a minority stake in PHM Group aligns interests and allows continued involvement in the sector.

• PHM Group, new to Switzerland, intends to maintain the existing platform and leverage local expertise.

Financial terms and conditions

• Transaction values the real estate service segment at CHF 240 million.

• Investis will acquire a CHF 50 million minority stake in PHM Group, representing just under 4%.

• Invested about CHF 90 million in goodwill over the years; sale price is roughly double the purchase price.

Synergies and expected cost savings

• Participation on PHM’s board aims to foster growth and leverage synergies, especially for cross-border property management.

• PHM Group values the established Swiss platform and intends to grow both organically and via acquisitions.