EQS-News

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 [e-mail] Moritz Mayer Manager – Capital Markets [e-mail]

 

 

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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.

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Language:	English
Company:	CPI PROPERTY GROUP
	40, rue de la Vallée
	L-2661 Luxembourg
	Luxemburg
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
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

1493011  21.11.2022 CET/CEST