from GSG GROUP S.A. (isin : LU0251710041)
EQS-Adhoc: CPI PROPERTY GROUP and IMMOFINANZ to start negotiations about the sale of CPIPG’s 38.37% stake in S IMMO to IMMOFINANZ
EQS-Ad-hoc: CPI PROPERTY GROUP / Key word(s): Investment/Real Estate
CPI PROPERTY GROUP and IMMOFINANZ to start negotiations about the sale of CPIPG’s 38.37% stake in S IMMO to IMMOFINANZ
04-Sep-2024 / 16:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.
CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254
Legal Entity Identifier (LEI): 222100CO2ZOTEPGJO223
Luxembourg, 4 September 2024
CPI PROPERTY GROUP and IMMOFINANZ to start negotiations about the sale of CPIPG’s 38.37% stake in S IMMO to IMMOFINANZ
CPI PROPERTY GROUP (“CPIPG”) and IMMOFINANZ AG (“IMMOFINANZ”) will start negotiations regarding the potential sale of 28,241,094 shares in S IMMO AG (approx. 38.37%) held by CPIPG to IMMOFINANZ.
A transaction would be at arms' length and at a fair market price, taking into account the cash compensation of EUR 22.05 per share to be paid to the minority shareholders of S IMMO pursuant to the initiated squeeze-out procedure. Based on the squeeze out compensation per share announced by IMMOFINANZ, the aggregate upper limit amounts to about EUR 623 million. CPIPG is expected to offer a possibility of long-term financing to IMMOFINANZ for a portion of the purchase price, as well as potential discount.
CPIPG expects the transaction to be completed before end of September 2024.
Notifying Person:
David Greenbaum, d.greenbaum@cpipg.com
For further information please contact:
Investor Relations
Moritz Mayer, m.mayer@cpipg.com
CPI PROPERTY GROUP (a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 40, rue de la Vallée, L-2661 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg trade and companies register (Registre de commerce et des sociétés, Luxembourg) under number B102254)
End of Inside Information
04-Sep-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: | 1981713 |
| End of Announcement | EQS News Service |
1981713 04-Sep-2024 CET/CEST