In a statement, the company said its board is reviewing the group structure through the lens of driving shareholder value.

The partnership in the joint project Elbtower in Hamburg is not affected by this transaction.

The new Radisson Hotel & Suites Zurich is located in the Glattpark district of Opfikon, a new development in the Zurich metropolitan area.

The EU Taxonomy is a key part of the EU Sustainable Finance policy reform package.

The acquisition has an impact on the ebitda guidance published on 21 February 2023.

Shares of SBB were up 27% at 10 a.m. London time after Bloomberg reported the troubled Swedish property group had attracted interest from investors including Brookfield Asset Management.

The aggregate purchase consideration for the Acquisition is approximately €76.8 million.

The complex offers a leasable area of approximately 4,676 sq.m in 30 apartments and 18 two-story houses.