Financial report Consolidated annual financial statements: Notes to the consolidated annual financial statements Other financial information
Companies acquired and sold
33. Significant shareholders
Kumag AG was acquired in the year under review. Immobiliengesellschaft Fadmatt AG was acquired in the prior year.
As at the reporting date, the following shareholders held 3% or more of the shares and options in Mobimo Holding AG:
Kumag AG
%
2019
Credit Suisse Funds AG
5.50
3.10
BlackRock, Inc.
4.95
4.99
Pensionskasse des Kantons Zug
3.18
3.18
Mobimo acquired 100% of the shares in Kumag AG on 25 July 2019. This is a real estate company which owns the Zurich, Letzigraben 114/116 property. The intention is to develop this property from a commercial property today into condominium apartments. As the acquired company does not meet the criteria of a business under IFRS 3, the acquisition is not a business combination but a purchase of assets. The costs of acquisition have been allocated to the positions.
2018
UBS Fund Management (Switzerland) AG
3.08
3.08
Dimensional Holding Inc.
3.00
3.00
34. Events after the reporting date Immobiliengesellschaft Fadmatt AG
On 22 August 2018, all 6,520 issued and publicly held shares in Immobiliengesellschaft Fadmatt AG were acquired at a price of CHF 28,000 per share. Just under half of the acquisition price of CHF 181.2 million was paid in cash, and the remainder in the form of 383,377 new shares created from Mobimo’s authorised capital. The company’s real estate portfolio comprises 503 units (apartments and terraced, semi-detached and detached houses) spread over seven locations in the cantons of Zurich and Schaffhausen. As the acquired company did not meet the criteria of a business under IFRS 3, the acquisition was not a business combination but a purchase of assets. The costs of acquisition have been allocated to the positions. Changes in the scope of consolidation
On 27 June 2019, Mobimo acquired the remaining 34% of the shares in BSS&M Real Estate AG, Küsnacht for CHF 9.2 million. As such, it now holds 100% of the shares, meaning that as at the balance sheet date there were no longer any non-controlling interests in equity. As part of a restructuring within the scope of consolidation, Immobilien Invest Holding AG, Glarus was absorbed by LO Holding L ausanne-Ouchy S.A., Lausanne with effect from 17 May 2019. Mobimo had acquired the remaining 24.7% of the shares in Immobilien Invest Holding AG, Glarus in the prior year.
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Mobimo Annual Report 2019
The Board of Directors approved the consolidated annual financial statements for publication on 31 January 2020. These statements are also subject to approval by the General Meeting of Mobimo Holding AG on 31 March 2020. No other events took place between 31 December 2019 and the approval date of these consolidated financial statements that would require adjustments to the carrying amounts of assets and liabilities of the Group as at 31 December 2019 or that would require disclosure in this section.