DGAP-News
CPI PROPERTY GROUP: Reinforcement of Hotel Portfolio, New Financing and Development launched
DGAP-News: CPI PROPERTY GROUP / Key word(s): Quarter Results
CPI PROPERTY GROUP: Reinforcement of Hotel Portfolio, New Financing and
Development launched
30.11.2016 / 19:18
The issuer is solely responsible for the content of this announcement.
CPI PROPERTY GROUP: Reinforcement of Hotel Portfolio, New Financing and
Development launched
30.11.2016 / 19:18
The issuer is solely responsible for the content of this announcement.
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Reinforcement of Hotel Portfolio, New Financing and Development launched
Corporate news
The Group increases further its share capital
On 23 November 2016, CPI PROPERTY GROUP (hereinafter "the Company" or
together with its subsidiaries "the Group") raised EUR 130 million and
issued 1.3 billion new shares for a global cash contribution of EUR 130
million. The new shares were subscribed by the current shareholder EFIMACOR
S.a r.l., an entity closely associated with Mr. Radovan Vítek.
The new shares, having a par value and a subscription price of EUR 0.10
each, were issued in a reserved capital increase under the Company's
authorised share capital and fully paid by cash. The total number of shares
comprising the share capital of the Company is 7,751,103,436 as of 30
November 2016.
Portfolio highlights
Acquisition of hotel operator CPI Hotels
On 31 August 2016, the Group acquired 100% stake at CPI Hotels, a.s. (the
"CPI Hotels") a long-term business partner of the Group operates 24 hotels
owned by the Group. The Office for the Protection of Competition, Czech
Republic, granted a merger clearance for this acquisition on 16 November
2016, whereas its decision became final and binding on 22 November 2016.
Since 1997, CPI Hotels has been the exclusive representative of the
international hotel chain Choice Hotels International known as the Clarion
brand in the Czech Republic and Slovakia. In 2009, CPI Hotels introduced
the unique project of the five-star Buddha Bar Hotel Prague, the first
hotel of the international chain Buddha-Bar Hotels & Resorts. CPI Hotels
operates its own brand Fortuna Hotels and brand Spa & Kur Hotels. In 2014,
the portfolio operated by CPI Hotels expanded to Mamaison Hotels &
Residences.
Acquisition of additional shares in Sunčani Hvar
In Q2 2016, the Group acquired 61.95% of the shareholding in SUNČANI HVAR
d.d. (hereinafter as "SHH"), hotel company operating on the Island of Hvar,
Croatia. During the mandatory buyout procedure, shareholders of SHH,
including the Restructuring and Sale Centre of the Republic of Croatia,
tendered over 30% of SHH shares. Currently the Group's stake on SHH shares
exceeds 96%. The SHH shares are currently being delisted from the regulated
Reinforcement of Hotel Portfolio, New Financing and Development launched
Corporate news
The Group increases further its share capital
On 23 November 2016, CPI PROPERTY GROUP (hereinafter "the Company" or
together with its subsidiaries "the Group") raised EUR 130 million and
issued 1.3 billion new shares for a global cash contribution of EUR 130
million. The new shares were subscribed by the current shareholder EFIMACOR
S.a r.l., an entity closely associated with Mr. Radovan Vítek.
The new shares, having a par value and a subscription price of EUR 0.10
each, were issued in a reserved capital increase under the Company's
authorised share capital and fully paid by cash. The total number of shares
comprising the share capital of the Company is 7,751,103,436 as of 30
November 2016.
Portfolio highlights
Acquisition of hotel operator CPI Hotels
On 31 August 2016, the Group acquired 100% stake at CPI Hotels, a.s. (the
"CPI Hotels") a long-term business partner of the Group operates 24 hotels
owned by the Group. The Office for the Protection of Competition, Czech
Republic, granted a merger clearance for this acquisition on 16 November
2016, whereas its decision became final and binding on 22 November 2016.
Since 1997, CPI Hotels has been the exclusive representative of the
international hotel chain Choice Hotels International known as the Clarion
brand in the Czech Republic and Slovakia. In 2009, CPI Hotels introduced
the unique project of the five-star Buddha Bar Hotel Prague, the first
hotel of the international chain Buddha-Bar Hotels & Resorts. CPI Hotels
operates its own brand Fortuna Hotels and brand Spa & Kur Hotels. In 2014,
the portfolio operated by CPI Hotels expanded to Mamaison Hotels &
Residences.
Acquisition of additional shares in Sunčani Hvar
In Q2 2016, the Group acquired 61.95% of the shareholding in SUNČANI HVAR
d.d. (hereinafter as "SHH"), hotel company operating on the Island of Hvar,
Croatia. During the mandatory buyout procedure, shareholders of SHH,
including the Restructuring and Sale Centre of the Republic of Croatia,
tendered over 30% of SHH shares. Currently the Group's stake on SHH shares
exceeds 96%. The SHH shares are currently being delisted from the regulated
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