CPI Property Group becomes the largest shareholder of IMMOFINANZ

CPIPG has announced an offer to take over all of IMMOFINANZ's outstanding shares. Shareholders were offered €21.20 per share of the company. In connection with the takeover offer, CPIPG announced that it is the largest shareholder with a block of approx. 21.4 percent of shares.

IMMOFINANZ owns a large number of high-quality commercial properties. The company's shares are traded mainly on the Vienna Stock Exchange. The IMMOFINANZ portfolio, worth €5 billion, is located in key Central European countries where CPIPG has a strong presence (e.g. in Germany, the Czech Republic, Poland, and Hungary). IMMOFINANZ is also a significant owner of commercial real estate in Austria.

In connection with the takeover offer, CPIPG announced that it is the largest shareholder of IMMOFINANZ. CPIPG also agreed to acquire a 10.6 percent stake in IMMOFINANZ from RPPK Immo, subject to obtaining the relevant antitrust approvals.

“IMMOFINANZ has an excellent real estate portfolio in the Central European region in which CPIPG is an expert. We are convinced that with the active involvement of CPIPG, IMMOFINANZ can achieve much more as a company," Martin Němeček, CEO of CPIPG, said.

(WBJ)