EQS-News: CPI PROPERTY GROUP
/ Key word(s): Real Estate
CPI Property Group Luxembourg, 28 April 2024 CPI PROPERTY GROUP - Poland Equity Investment CPI PROPERTY GROUP ("CPIPG" or the "Group") has signed a commitment agreement (the "commitment agreement") with Sona Asset Management (UK) LLP ("Sona") regarding a proposed equity investment of €250 million in Poland. The equity investment would consist of a significant minority stake in a CPIPG subsidiary holding a portfolio of eleven office properties in Warsaw and two retail assets located in Elblag and Lublin. The gross asset value of the portfolio is over €1 billion. In connection with the commitment agreement, CPIPG and Sona jointly acknowledge that transaction terms, definitive transaction documentation and due diligence are in an advanced state, and that both parties intend to conclude the transaction with a target closing by the end of H1 2024. CPIPG will use the proceeds to repay debt and reduce leverage. "Sona will be an excellent partner for CPIPG as we focus on capital structure priorities for 2024 and beyond." said David Greenbaum, CEO. "By investing alongside CPIPG in Poland, Sona will benefit directly from one of CEE's strongest economies and most vibrant real estate markets." 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 28.04.2024 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: | 1891153 |
| End of News | EQS News Service |
1891153 28.04.2024 CET/CEST
© 2024 EQS Group
