The completed acquisition is reported by the CPI Property Group, which has taken over the shares of the Austrian real estate company Immofinanz. CPI Property Group will become its largest shareholder with a share of 21.4 percent. The price per share was set at 21.20 euros, ie about 539 crowns.
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CPI Property Group has also agreed to purchase a 10.6 percent stake in Immofinanz from RPPK Immo GmbH, subject to obtaining antitrust licenses. Overall, CPI Property Group expects to own approximately 32 percent of Immofinanz after obtaining antitrust approvals, which will give it de facto control. The offer is expected to close in the second quarter of 2022.
“Immofinanz has an excellent real estate portfolio in the Central European region, in which CPIPG is an expert,” said Martin Němeček, CEO of CPI Property Group.
Immofinanz is a major owner of quality commercial real estate. Its shares are primarily listed on the Vienna Stock Exchange and its EUR 5 billion portfolio is in key Central European countries, where CPI Property Group also has a strong presence (eg Germany, the Czech Republic, Poland and Hungary). Immofinanz is also a major commercial property owner in Austria.
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