Ad-hoc announcement 
Vienna, 4 September 2024

 

IMMOFINANZ starts negotiations to purchase CPIPG’s remaining 38.37%-stake in S IMMO

 

IMMOFINANZ AG (“IMMOFINANZ”) and its core shareholder CPI Property Group SA (“CPIPG”) have today agreed upon to enter into negotiations for the acquisition of the remaining shares in S IMMO AG (“S IMMO”) by IMMOFINANZ. Currently, IMMOFINANZ directly holds approx. 50.60% of S IMMO and CPIPG directly holds 38.37%.

The potential transaction would involve 28,241,094 shares in S IMMO (approx. 38.37%) as CPIPG's remaining stake in S IMMO. A transaction would take place at a fair market price taking into account as an upper limit 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 and a discount to be negotiated. CPIPG is expected to provide long-term financing to IMMOFINANZ for a portion of the purchase price.

Upon completion of a purchase and the squeeze-out IMMOFINANZ would be 100% shareholder of S IMMO.

 

On 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 IMMOFINANZ relies on its established real estate brands – STOP SHOP (retail), VIVO! (retail) and myhive (office) – and also on complementary products and portfolios that include S IMMO. IMMOFINANZ owns more than 50% of the shares in S IMMO and fully consolidates this company. IMMOFINANZ Group holds roughly 490 properties with a combined value of approximately EUR 8.2 billion. The company is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://immofinanz.com  

 

For additional information contact:
Simone Korbelius
Investor Relations and Corporate Communications
T +43 (0)1 88 090 2291
M +43 (0)699 1685 7291
communications@immofinanz.com
investor@immofinanz.com

 

IMMOFINANZ
1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com