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CPI PROPERTY GROUP – Final Results of the mandatory takeover offer for S IMMO

EQS-News: CPI PROPERTY GROUP / Key word(s): Takeover
CPI PROPERTY GROUP – Final Results of the mandatory takeover offer for S IMMO
21.11.2022 / 19:52 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, 21 November 2022

CPI PROPERTY GROUP – Final Results of the mandatory takeover offer for S IMMO

CPI PROPERTY GROUP (“CPIPG”) hereby publishes the final results of the mandatory takeover offer for S IMMO AG ("S IMMO").

During the additional acceptance period which ended on 18 November 2022, 6,743,731 shares of S IMMO were tendered. The total acquisition price of the 6,743,731 shares amounts to about €154 million and will be funded through a drawing of CPIPG’s bridge facility with a final maturity in 2025.

Accordingly, following the settlement of the offer, CPIPG will control in aggregate 65,045,543 shares of S IMMO, which equals 88.37% of the share capital of S IMMO. Upon settlement, CPIPG will hold 45,546,106 shares of S IMMO directly and 19,499,437 shares through our subsidiary IMMOFINANZ AG (“IMMOFINANZ”).

CPIPG has also proposed entering into negotiations with IMMOFINANZ concerning a potential purchase of S IMMO shares from CPIPG. This would enable IMMOFINANZ to become the controlling shareholder and consolidate S IMMO. The Supervisory Board of IMMOFINANZ approved the start of these negotiations. The transaction, if completed, would take place at a fair market price to be negotiated and confirmed by an independent fairness opinion.

CPIPG sees potential benefits to all stakeholders from the proposed transaction, but the overall impact on CPIPG as a Group would be neutral considering that both IMMOFINANZ and S IMMO were fully consolidated as of 31 March and 30 June 2022, respectively.

Investor Relations
David Greenbaum
Chief Financial Officer
d.greenbaum@cpipg.com

Moritz Mayer
Manager – Capital Markets
m.mayer@cpipg.com

 

 

For more on CPI Property Group, visit our website: www.cpipg.com

Follow us on Twitter (CPIPG_SA) and LinkedIn


21.11.2022 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.
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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:

1493011


 

End of News

EQS News Service

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