CPI PROPERTY GROUP / LU0251710041
23.11.2023 - 16:43:16CPI 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. 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: | 1780807 |
| End of News | EQS News Service |
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