CPI PROPERTY GROUP and IMMOFINANZ Initiate Negotiations for 38.37% Stake in S IMMO

CPI PROPERTY GROUP ("CPIPG") and IMMOFINANZ AG ("IMMOFINANZ") have announced the commencement of negotiations for the sale of CPIPG’s 38.37% stake in S IMMO AG to IMMOFINANZ. The stake comprises 28,241,094 shares. The negotiation follows an arm's length principle and targets a fair market price, aligning with the ongoing squeeze-out procedure at EUR 22.05 per share.

The potential transaction values the stake at approximately EUR 623 million. CPIPG has indicated it may offer long-term financing and potential discounts to IMMOFINANZ for part of the purchase price. The completion of the transaction is anticipated before the end of September 2024.