IMMOFINANZ AG (FRA:IMO) EQS-News: IMMOFINANZ welcomes announced increase - CPI offer price still too low

Directive transparence : information réglementée

27/01/2022 17:58

EQS-News: IMMOFINANZ AG / Key word(s): Offer/Real Estate
IMMOFINANZ welcomes announced increase - CPI offer price still too low

27.01.2022 / 17:58
The issuer is solely responsible for the content of this announcement.

IMMOFINANZ welcomes announced increase - CPI offer price still too low

The Executive Board of IMMOFINANZ welcomes the announcement by CPI Property Group S.A. (CPIPG) to increase the offer price for IMMOFINANZ shares from the current level of EUR 21.2 (cum dividend) to EUR 22.7 (cum dividend). This price is, however, still clearly below the current value of the company and does not reflect IMMOFINANZ's substantial growth potential. Moreover, the higher price fails to include an appropriate control premium for CPIPG's announced intention to attain control over IMMOFINANZ. The Executive Board also refers to its statement from 26 January 2022 on the anticipatory mandatory offer by CPIPG and again recommends that investors not accept the announced improved offer by CPIPG for IMMOFINANZ's shares and convertible bonds.

CPIPG announced on 26 January 2022 that it had signed a conditional purchase contract to acquire 9,413,253 IMMOFINANZ shares, representing approximately 6.81% of the current share capital of IMMOFINANZ. The purchase price per share equals EUR 22.70 cum dividend. As a consequence of this conditional package purchase of IMMOFINANZ shares, CPIPG announced that it will increase its offer price for IMMOFINANZ's shares and convertible bonds in accordance with the agreed purchase price and in agreement with the Austrian Takeover Act.

On this basis, CPIPG holds (directly and indirectly) a total of 26,621,030 IMMOFINANZ shares as of 26 January 2022, which represents a holding of approximately 19.25%. An additional 22,442,408 IMMOFINANZ shares, which represent an investment of approximately 16,23%, are conditionally contracted. That represents a total investment of 49,063,438 IMMOFINANZ shares, i.e. an investment of approximately 35.49% in the share capital of IMMOFINANZ.

IMMOFINANZ is a commercial real estate group whose activities are focused on the office and retail segments of eight core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business covers the management and development of properties, whereby the STOP SHOP (retail), VIVO! (retail) and myhive (office) brands represent strong focal points that stand for quality and service. The real estate portfolio has a value of approx. EUR 5.0 billion and covers roughly 210 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under:

This announcement is issued by IMMOFINANZ AG (IMMOFINANZ) in connection with the anticipatory mandatory offer published by CPI Property Group S.A. for shares and convertible bonds of IMMOFINANZ (takeover offer) on 12 January 2022. It is for information purposes only and neither an offer to purchase nor a solicitation to sell securities of IMMOFINANZ. The conditions and further provisions relating to the Takeover Offer are disclosed in the offer document published by CPI Property Group S.A. The offer document and the statements of the Management Board and the Supervisory Board are forming the relevant basis and investors and it is strongly recommended to holders of IMMOFINANZ shares and other equity securities to review these documents.

To the extent this announcement contains forward-looking statements concerning IMMOFINANZ, such statements do not represent facts and are characterized by the words such as "will", "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express intentions, opinions or current expectations and assumptions of IMMOFINANZ. These forward-looking statements are based on current plans, estimates and forecasts, but do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by IMMOFINANZ. It should be kept in mind that the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.

For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290


27.01.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com

Language: English
Wienerbergstraße 9
1100 Vienna
Phone: +43 (0) 1 88090 - 2290
Fax: +43 (0) 1 88090 - 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Warschau, Vienna Stock Exchange (Official Market)
EQS News ID: 1273857

End of News EQS News Service

1273857  27.01.2022