{"id":44628,"date":"2024-10-04T11:23:42","date_gmt":"2024-10-04T11:23:42","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=44628"},"modified":"2024-10-04T11:24:20","modified_gmt":"2024-10-04T11:24:20","slug":"bpv-huegel-advises-immofinanz-on-further-increase-of-s-immo-shareholding","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/bpv-huegel-advises-immofinanz-on-further-increase-of-s-immo-shareholding\/","title":{"rendered":"bpv Huegel advises IMMOFINANZ on further increase of S IMMO shareholding"},"content":{"rendered":"

The IMMOFINANZ Group acquired a further approx. 38% of S IMMO shares from CPI Property Group SA for a purchase price of around EUR 608.5 million.<\/em><\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

Vienna, 3 October 2024. bpv Huegel advised IMMOFINANZ on the further increase of its shareholding in S IMMO AG.<\/strong><\/p>\n

IMMOFINANZ Group acquired a further 28,241,094 shares in S IMMO AG from its core shareholder CPI Property Group SA (CPIPG), thereby increasing its shareholding by around 38% to approximately 89%. The purchase price for the transaction amounts to EUR 608.5 million, which corresponds to a price of EUR 21.55 per S IMMO share. This results from the cash compensation of EUR 22.05 to be paid to the minority shareholders of S IMMO AG in the course of the planned squeeze-out less a discount of EUR 0.50 per share. The transaction will be partly financed through a long-term credit facility of EUR\u00a0500 million at market conditions provided to IMMOFINANZ by CPIPG. The transaction agreements were signed on 25 September 2024 and the closing was subsequently completed.<\/p>\n

IMMOFINANZ Group is a commercial real estate group whose activities are focused on the office and retail segments in eight core markets in Europe: Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, Romania, and the Adriatic region. Its core business includes property management and development. The real estate portfolio of IMMOFINANZ Group has a value of approximately EUR\u00a08.2 billion and covers 490 properties. The company is listed on the Vienna (leading index ATX) and Warsaw stock exchanges. Further information: https:\/\/www.immofinanz.com<\/a>.<\/p>\n

The bpv Huegel team was led by Christoph Nauer (Corporate\/M&A, Capital Markets) and included Barbara Valente (Corporate\/M&A, Capital Markets), Roland Juill (Corporate\/M&A, Capital Markets), Ingo Braun (Finance & Regulatory), Nicolas Wolski (Tax) and Daniel Maurer (Corporate\/M&A, Capital Markets).<\/p>\n

CPI Property Group S.A. was advised by Wolf Theiss (Florian Kusznier, Claus Schneider).<\/p>\n

bpv Huegel’s corporate and capital markets team is also advising IMMOFINANZ on the ongoing squeeze-out of S IMMO. Upon completion of the squeeze-out, IMMOFINANZ Group would become a 100% shareholder of S IMMO.<\/p>\n

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