DGAP-News 527 0 Kommentare CPI PROPERTY GROUP - ACQUISITION OF ADDITIONAL STAKES IN HOSPITALITY INVEST

DGAP-News: CPI PROPERTY GROUP / Key word(s): Acquisition
CPI PROPERTY GROUP - ACQUISITION OF ADDITIONAL STAKES IN HOSPITALITY
INVEST

19.12.2014 / 17:29

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Luxembourg, 19 December 2014

CPI PROPERTY GROUP - ACQUISITION OF ADDITIONAL STAKES IN HOSPITALITY INVEST

CPI PROPERTY GROUP (the "Company") announces that it increased its stakes
in Hospitality Invest S.a.r.l. ("HI"). Further to the acquisition of 50% HI
shares announced by the Company on 25 April 2014, the Company today
acquired 88% shares in entities holding the remaining 50% shares in HI from
ORCO PROPERTY GROUP. As such, the Company directly and indirectly holds 94%
of HI as of today. The transaction comprised of transfer of shares as well
as of intercompany loans at current fair value (NAV). The overall
transaction price amounts to EUR 13.3 Million.

The existing HI portfolio is mostly operated under the brand Mamaison
Hotels and Residences (www.mamaison.com) and represented a unique
collection of well-established luxury boutique hotels and all-suite
residences, mostly located in prime central locations of the CEE capitals
(Prague, Warsaw, Budapest, Bratislava and Moscow).

For further information please contact:

Kirchhoff Consult AG
Sebastian Bucher
Herrengraben 1
20459 Hamburg
T +49 40 60 91 86 18
F +49 40 60 91 86 60
E sebastian.bucher@kirchhoff.de

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19.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: CPI PROPERTY GROUP
40, rue de la Vallée
L-2661 Luxembourg
Grand Duchy of Luxembourg
Phone: +49 (0)30 440123120
Fax: +49 (0)30 390 93 199
E-mail: InvestorRelations@gsg-group.de
Internet: www.gsg-group.de
ISIN: LU0251710041
WKN: A0JL4D
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Düsseldorf, Stuttgart

End of News DGAP News-Service
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