10/02/2021 – The real estate is sold — auf Deutsch lesen
Bogner: Sale of the headquarter sucessfully completed
The sale of the real estate is a component of the company’s performance program that aims at promoting profitability and sustainable global growth.
Bogner has sold the property of its corporate headquarters located in Sankt-Veit-Straße 4 in Munich to the listed real estate developer UBM Development AG for 55 million euros. Following a structured bidding process, the parties signed the purchase agreement on January 29, 2021. The transaction is still subject to the two-month right of first refusal of the City of Munich, which applies to such property transactions.
Bogner will stay in the current company headquarters as a tenant for at least two more years.
During this period, the company will look for a new location for its headquarters in Munich.
On the current site of the company’s headquarters, the Vienna Stock Exchange-listed real estate developer UBM plans to build apartments after Bogner has moved out.
The sale of the approximately 12,000 sqm property including existing buildings is a component of the performance program presented in July 2020, which is designed to reduce the complexity of Bogner and improve the company’s structural positioning for the long term. In addition, the sale of the property is part of a financing agreement that Bogner has signed with various banks to secure the company's financial stability for the next years.
Gerrit Schneider, Co-CEO of Bogner:
“We are pleased to have reached another important milestone in the implementation of our performance program. The sale of the property is part of our financing agreement to secure our financial stability for the coming years and at the same time invest in important topics of the future. For our employees, the sale does not imply any changes until we will move in two years at the earliest. Munich as location will not change in the future, because Bogner belongs to Munich.”