Immofinanz AG (WBAG:IIA) signed a preliminary agreement to acquire Galeria Pila from Rank Progress Spólka Akcyjna (WSE:RNK) for PLN 57.7 million on April 16, 2014. Based on an earn-out agreement, Rank Progress will participate in the development profit in a certain agreed percentage after two years. The transaction is subject to several closing conditions.

Immofinanz AG (WBAG:IIA) completed the acquisition of Galeria Pila from Rank Progress Spólka Akcyjna (WSE:RNK) on August 27, 2014.