EQS-News: CPI PROPERTY GROUP – Partial Sale of IMMOFINANZ Shares
EQS-News: CPI PROPERTY GROUP
/ Key word(s): Disposal
CPI PROPERTY GROUP – Partial Sale of IMMOFINANZ Shares
22.12.2023 / 18:25 CET/CEST
The issuer is solely responsible for the content of this announcement.
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, 22 December 2023
CPI PROPERTY GROUP – Partial Sale of IMMOFINANZ Shares
CPI PROPERTY GROUP (“CPIPG” or the “Group”) is pleased to announce a small transaction which enhances liquidity while preserving strategic flexibility.
Recently, CPIPG was approached by Petrus Advisers Investments Fund L.P. (“PAIF”), a London-based investment manager and current shareholder of IMMOFINANZ AG ("IMMOFINANZ"), about increasing their ownership stake.
CPIPG agreed to sell 2,575,000 shares of IMMOFINANZ to PAIF, equivalent to 1.86% of the total outstanding. Notably, CPIPG’s shareholding in IMMOFINANZ remains above the strategically important threshold of 75%.
The transaction value was about €51.9 million, equivalent to €20.15 per share. Concurrently, PAIF has granted CPIPG call options which are exercisable for up to 2 years.
The sale provides CPIPG with additional liquidity, while the call option gives the Group flexibility on future strategic plans for IMMOFINANZ. CPIPG sees PAIF as a thought leader in the Austrian market, and both parties intend to engage regarding IMMOFINANZ’s governance, strategy, and shareholder value.
For further information, please contact:
Investor Relations
Moritz Mayer
m.mayer@cpipg.com
For more on CPI Property Group, visit our website: www.cpipg.com
Follow us on X (CPIPG_SA) and LinkedIn
22.12.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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