CPI PROPERTY GROUP, LU0251710041

CPI PROPERTY GROUP / LU0251710041

23.11.2023 - 16:43:16

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

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


23.11.2023 / 16:43 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, 23 November 2023



CPI Property Group (“CPIPG”) is pleased to announce the signing of a binding agreement for the sale of a portfolio totalling 11 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 seven office properties, three commercial properties and a plot of land with a total lettable area of around 138,000 m², located in the Czech Republic. The transaction property value is EUR 481 million and annual rental income of around EUR 29 million. After deduction of bank liabilities (approx. EUR 213 million), an intra-group liability towards a subsidiary of CPIPG (approx. EUR 29.5 million) and commercial deductions (approx. EUR 51 million), the preliminary consideration is approx. EUR 187 million.

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 Twitter (CPIPG_SA) and LinkedIn


23.11.2023 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.

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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: 1780807

 
End of News EQS News Service

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