The Immofinanz Group has acquired a approximately 38% of S Immo shares from CPI Property Group SA for around EUR 608.5 million, thereby increasing its shareholding to approximately 89%.
According to the bpv Huegel law firm, which advised the Immofinanz Group on the deal, the purchase price corresponds to a price of EUR 21.55 per S Immo share, resulting in the payment of 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, minus 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 September 25, 2024, and closing was subsequently completed.
Immofinanz Group is a commercial real estate group whose activities are focused on the office and retail segments in 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 and Warsaw stock exchanges.
CPI Property Group S.A. was advised by the Wolf Theiss law firm.