EQS-News

CPI PROPERTY GROUP – Update on strategic initiatives

EQS-News: CPI PROPERTY GROUP / Key word(s): Miscellaneous CPI PROPERTY GROUP – Update on strategic initiatives 24.05.2024 / 17:56 CET/CEST The issuer is solely responsible for the content of this announcement.

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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, 24 May 2024

CPI PROPERTY GROUP – Update on strategic initiatives

CPI PROPERTY GROUP (“CPIPG” or the “Group”), a leading European landlord, has prepared a brief update for our stakeholders regarding the Group’s strategic initiatives.

Group simplification

Earlier today, IMMOFINANZ AG (“IMMOFINANZ”) announced the commencement of preparations for a squeeze-out of S IMMO AG (“S IMMO”). Together with CPIPG, IMMOFINANZ holds a stake of approximately 88.37% in the share capital of S IMMO (taking into account the treasury shares of S IMMO, the effective stake in S IMMO amounts to approximately 92.54%). The intended squeeze-out is the Group’s first step towards reducing complexity. We intend to further review the structure of our Group in the coming months. The announcement by IMMOFINANZ is available on the website of IMMOFINANZ (www.immofinanz.com).