IMMOFINANZ increases shareholding in S IMMO to 89%

Press release | Corporate News 
Vienna, 25 September 2024

IMMOFINANZ increases shareholding in S IMMO to 89%

IMMOFINANZ Group is acquiring a further 28,241,094 shares in S IMMO AG ("S IMMO") from its core shareholder CPI Property Group ("CPIPG"), thus increasing its stake in S IMMO to around 89%.

The purchase price amounts to EUR 608.5 million or EUR 21.55 per S IMMO share and results from the cash compensation of EUR 22.05 to be paid to the minority shareholders of S IMMO 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 500 million at market conditions provided to IMMOFINANZ by CPIPG. The transaction agreements were signed today, 25 September 2024, with closing to take place immediately thereafter.

"With this acquisition, we are taking a further step towards optimizing the Group structure and acquiring 100% of the shares in our subsidiary S IMMO after completion of the planned squeeze-out", explains Radka Doehring, member of the Executive Board of IMMOFINANZ.

On IMMOFINANZ

IMMOFINANZ is a commercial real estate group whose activities are focused on the office and retail segments of eight core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business covers the management and development of properties, whereby IMMOFINANZ relies on its established real estate brands – STOP SHOP (retail), VIVO! (retail) and myhive (office) – and also on complementary products and portfolios that include S IMMO. IMMOFINANZ owns more than 50% of the shares in S IMMO and fully consolidates this company. IMMOFINANZ Group holds roughly 490 properties with a combined value of approximately EUR 8.2 billion. The company is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://immofinanz.com

For additional information contact:
Simone Korbelius
Investor Relations and Corporate Communications
T +43 (0)1 88 090 2291
M +43 (0)699 1685 7291
communications@immofinanz.com
investor@immofinanz.com

1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com