EQS-News: CPI PROPERTY GROUP
/ Key word(s): Contract/Real Estate
CPI Property Group Luxembourg, 25 April 2024 CPI PROPERTY GROUP - Disposal of Czech Portfolio to S IMMO AG CPI PROPERTY GROUP ("CPIPG" or the "Group") is pleased to announce the signing of a binding agreement for the sale of a portfolio totalling 6 properties located in the Czech Republic to S IMMO AG. Today, a subsidiary of CPIPG signed a contract with a subsidiary of S IMMO AG for the sale of two office buildings, two shopping centres, a mixed-use property and a single-tenant retail building with a total lettable area of around 136,000 m², located in the Czech Republic. The transaction property value is EUR 463 million and annual rental income of around EUR 28.3 million. After the deduction of financial liabilities (approx. EUR 236 million), other balance sheet adjustments (approx. EUR 10.5 million) and commercial deductions (approx. EUR 40.5 million), the net consideration is approx. EUR 176 million, subject to standard balance sheet adjustments. Approximately EUR 76 million of the net proceeds will be financed initially by a vendor loan. The transaction qualifies as a related party transaction given that CPIPG indirectly consolidates S IMMO AG. 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 25.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | CPI PROPERTY GROUP |
| 40, rue de la Vallée | |
| L-2661 Luxembourg | |
| Luxemburg | |
| Phone: | +352 264 767 1 |
| Fax: | +352 264 767 67 |
| E-mail: | contact@cpipg.com |
| Internet: | www.cpipg.com |
| ISIN: | LU0251710041 |
| WKN: | A0JL4D |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart |
| EQS News ID: | 1889645 |
| End of News | EQS News Service |
1889645 25.04.2024 CET/CEST
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