CPI PROPERTY GROUP, LU0251710041

CPI PROPERTY GROUP / LU0251710041

25.04.2024 - 12:41:01

CPI PROPERTY GROUP – Disposal of Czech Portfolio to S IMMO AG

CPI PROPERTY GROUP / Key word(s): Contract/Real Estate


25.04.2024 / 12:41 CET/CEST
The issuer is solely responsible for the content of this announcement.


CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254

Press Release - Corporate News

Luxembourg, 25 April 2024



CPI PROPERTY GROUP (“CPIPG” or the “Group”) is pleased to announce the signing of a binding agreement for the sale of a portfolio totalling 6 properties located in the Czech Republic to S IMMO AG.

Today, a subsidiary of CPIPG signed a contract with a subsidiary of S IMMO AG for the sale of two office buildings, two shopping centres, a mixed-use property and a single-tenant retail building with a total lettable area of around 136,000 m², located in the Czech Republic. The transaction property value is EUR 463 million and annual rental income of around EUR 28.3 million. After the deduction of financial liabilities (approx. EUR 236 million), other balance sheet adjustments (approx. EUR 10.5 million) and commercial deductions (approx. EUR 40.5 million), the net consideration is approx. EUR 176 million, subject to standard balance sheet adjustments. Approximately EUR 76 million of the net proceeds will be financed initially by a vendor loan.

The transaction qualifies as a related party transaction given that CPIPG indirectly consolidates S IMMO AG. 

For further information, please contact:

Investor Relations

Moritz Mayer
m.mayer@cpipg.com

For more on CPI Property Group, visit our website: www.cpipg.com    
Follow us on X (CPIPG_SA) and LinkedIn


25.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language: English
Company: CPI PROPERTY GROUP
40, rue de la Vallée
L-2661 Luxembourg
Luxemburg
Phone: +352 264 767 1
Fax: +352 264 767 67
E-mail: contact@cpipg.com
Internet: www.cpipg.com
ISIN: LU0251710041
WKN: A0JL4D
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart
EQS News ID: 1889645

 
End of News EQS News Service

1889645  25.04.2024 CET/CEST fncls.ssp?fn=show_t_gif&application_id=1889645&application_name=news&site_id=trading_house_net~~~7efceac5-959a-43d6-afef-21ad42b6a5d4
@ dgap.de