bpv Huegel advises IMMOFINANZ on further increase of S IMMO shareholding

The IMMOFINANZ Group acquired a further approx. 38% of S IMMO shares from CPI Property Group SA for a purchase price of around EUR 608.5 million.

Vienna, 3 October 2024. bpv Huegel advised IMMOFINANZ on the further increase of its shareholding in S IMMO AG.

IMMOFINANZ Group acquired a further 28,241,094 shares in S IMMO AG from its core shareholder CPI Property Group SA (CPIPG), thereby increasing its shareholding by around 38% to approximately 89%. The purchase price for the transaction amounts to EUR 608.5 million, which corresponds to a price of EUR 21.55 per S IMMO share. This results from the cash compensation of EUR 22.05 to be paid to the minority shareholders of S IMMO AG in the course of the planned squeeze-out less a discount of EUR 0.50 per share. The transaction will be partly financed through a long-term credit facility of EUR 500 million at market conditions provided to IMMOFINANZ by CPIPG. The transaction agreements were signed on 25 September 2024 and the closing was subsequently completed.

IMMOFINANZ Group is a commercial real estate group whose activities are focused on the office and retail segments in eight core markets in Europe: Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, Romania, and the Adriatic region. Its core business includes property management and development. The real estate portfolio of IMMOFINANZ Group has a value of approximately EUR 8.2 billion and covers 490 properties. The company is listed on the Vienna (leading index ATX) and Warsaw stock exchanges. Further information: https://www.immofinanz.com.

The bpv Huegel team was led by Christoph Nauer (Corporate/M&A, Capital Markets) and included Barbara Valente (Corporate/M&A, Capital Markets), Roland Juill (Corporate/M&A, Capital Markets), Ingo Braun (Finance & Regulatory), Nicolas Wolski (Tax) and Daniel Maurer (Corporate/M&A, Capital Markets).

CPI Property Group S.A. was advised by Wolf Theiss (Florian Kusznier, Claus Schneider).

bpv Huegel’s corporate and capital markets team is also advising IMMOFINANZ on the ongoing squeeze-out of S IMMO. Upon completion of the squeeze-out, IMMOFINANZ Group would become a 100% shareholder of S IMMO.

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