21st Austria weekly - AT&S, Immofinanz, Frequentis (23/09/2024)

AT&S: AT&S and the Italian company SO.MA.CI.S. S.p.A. signed an agreement for the sale of AT&S Korea CO., LTD. and thus the AT&S plant in Ansan, South Korea. The purchase price (equity value) amounts to approximately EUR 405 million. “Ansan is an AT&S success story,” says CEO Andreas Gerstenmayer. “When AT&S acquired the plant in 2006, all revenue was generated locally, and its performance was far below the expectations of AT&S. The development of new applications, strong investment in technology and capabilities, as well as the strong commitment of the responsible team resulted in strong revenue growth and a significant improvement in performance. Within only a few years, revenue quadrupled.”
AT&S: weekly performance: 0.50%

Immofinanz: CPI Property Group (CPIPG), controlling shareholder of Immofinanz, and Immofinanz in July announced the signing of a framework agreement between, enabling the two groups to initiate a process to examine the feasibility, advantages and disadvantages of a potential business combination, cross-border merger or other form of integration or combination of assets, functions and key corporate entities of the two groups with the aim of optimising the group’s capital structure to capture both operating and cost efficiencies for the benefit of all stakeholders. Petrus Advisers, who has an ownership stake of 11.5% in Immofinanz,  has now initiated discussions regarding strategic alternatives for Immofinanz. Petrus sees potential for substantial value creation that will satisfy CPIPG’s stated strategy while meeting the objectives of allstakeholders. CPI Property Group’s control of Immofinanz is unaffected. There are no contractual or other agreements in place between CPIPG and Petrus for the coordinated exercise of voting and/or control rights.
Immofinanz: weekly performance: -21.70%

Frequentis: Swiss Federal Railways (SBB) has selected Frequentis to deliver and implement a new communication system that will replace the current dispatcher system and manage communication for over 11,000 trains daily. The new platform called IMS Service BTA will enhance communication between train control centres, staff, and emergency teams, ensuring smoother operations across the network. Thomas Karl, Vice President Frequentis Public Transport, says: “The new system will support SBB’s rail operations well into the next decade and underscores our commitment to providing best-in-class solutions to world-leading railways.”
Frequentis: weekly performance: 1.92%