CPI PROPERTY GROUP / LU0251710041
25.09.2024 - 21:09:21CPI Property Group – Sale of S IMMO AG shares to IMMOFINANZ AG
| CPI PROPERTY GROUP / Key word(s): Contract 25.09.2024 / 21:09 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 September 2024 CPI PROPERTY GROUP (“CPIPG” or the “Group”) hereby announces the sale of 28,241,094 shares in S IMMO AG ("S IMMO") to IMMOFINANZ AG (“IMMOFINANZ”). The total number of shares sold will result in IMMOFINANZ increasing its stake in S IMMO to around 89%. The total purchase price consideration amounts to €608.5 million or €21.55 per S IMMO share. The purchase price for the shares was negotiated between CPIPG and IMMOFINANZ based on the cash compensation of €22.05 to be paid to the minority shareholders of S IMMO in the planned squeeze-out, less a discount of €0.50 per share. The transaction will be partly financed through a long-term credit facility of €500 million provided by CPIPG to IMMOFINANZ. The financing terms are also based on current market conditions with optional prepayments to be made continuously throughout the duration of the facility. The sale purchase agreement was signed today, with closing to take place immediately thereafter. The transaction qualifies as a related party transaction given that CPIPG consolidates IMMOFINANZ and S IMMO. Thus, there will be no impact on the Group’s consolidated financial position as a result of this transaction. For further information, please contact: Investor Relations Moritz Mayer Manager, Capital Markets m.mayer@cpipg.com For more on CPI Property Group, visit our website: www.cpipg.com Follow us on X (CPIPG_SA) and LinkedIn 25.09.2024 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: | 1995827 |
| End of News | EQS News Service |
| |
