1997 |
Company FoundingThe Company was founded in 1997 under the name „Central European Land Limited“ and takes over a portfolio of 60 property in the Czech Republic and Hungary. In 2002, the name of the Company altered to „Meinl European Land Limited“ and in 2008 to “Atrium European Real Estate Limited”. |
2002 |
Listing on the Vienna Stock Exchange & first Capital IncreaseIn November 2002 the Company is listed on the Vienna Stock Exchange and effects its first capital increase in the same time. |
2003 |
New projects in the Czech Republic & HungaryDuring the year 2003 the Company acquires more than 60 new properties with a total value of 140 million Euro in the Czech Republic and Hungary. |
2004 |
Entering into 4 Poland, Russia, Romania and SlovakiaThe Company signs the contracts for several additional properties and enters 4 new markets: Poland, Russia, Romania and Slovakia. |
2005 |
New projects and again new marketsThe Company continues its dynamic expansion and signs the contracts for additional properties and projects mainly in Russia, Poland, Latvia and Turkey. From that time on the Company is becoming more and more also a property developer rather than being a pure investor. |
2006 |
Active in 11 countries - Investment grade ratingAgain the Company continues its expansion by securing new projects in countries where the Group is already present and by expanding to new markets. In Summer 2006 Meinl European Land initiates a Medium Term Note Program with a total value of up to EUR 2bn, of which EUR 600m were issued. |
2007 |
Strategic review initiatedIn February 2008 the Company entered into discussions potential investors concerning the acquisition of a strategic stake in the company and so to ensure the sustainable development of the Company in times of changing market conditions. In a further step the Property Company started a strategic review and mandated Merrill Lynch to undertake the review in September 2007. As the operational side is concerned at YE 2007 the portfolio includes 160 operating properties with a market value of approx. EUR 1.8bn. Furthermore the group has a significant development pipeline and land plots secured. |
2008 |
Strategic investor, change of company structure and new nameIn March 2008 this strategic review resulted in an agreement with CPI/Gazit Holdings Limited, a joint venture between Gazit-Globe Limited, and CPI Austria Holdings Limited.Under this agreement CPI/Gazit agreed to undertake a significant strategic investment of at least EUR 800m in the Property Company accompanying changes in the company structure agreed with CPI/Gazit include the internalization of the Group’s management and recruitment of a new management team as well as the reconstitution of the Board of Directors. In addition it was agreed to terminate the existing contractual arrangements with the manager and Meinl Bank and to repurchase and cancel the company’s partly paid shares, as well as the ordinary shares underlying the 88.815m certificates acquired and held on behalf of the Company Finally the name of the Company was changed to Atrium European Real Estate. |
