IMMOFINANZ starts negotiations to purchase CPIPG’s remaining 38.37%-stake in S IMMO

IMMOFINANZ AG (“IMMOFINANZ”) and its core shareholder CPI Property Group SA (“CPIPG”) have today agreed upon to enter into negotiations for the acquisition of the remaining shares in S IMMO AG (“S IMMO”) by IMMOFINANZ. Currently, IMMOFINANZ directly holds approx. 50.60% of S IMMO and CPIPG directly holds 38.37%.

The potential transaction would involve 28,241,094 shares in S IMMO (approx. 38.37%) as CPIPG's remaining stake in S IMMO. A transaction would take place at a fair market price taking into account as an upper limit the cash compensation of EUR 22.05 per share to be paid to the minority shareholders of S IMMO pursuant to the initiated squeeze-out procedure and a discount to be negotiated. CPIPG is expected to provide long-term financing to IMMOFINANZ for a portion of the purchase price.

Upon completion of a purchase and the squeeze-out IMMOFINANZ would be 100% shareholder of S IMMO.