CPI Property Group (CPIPG) has become the owner of approximately 79.2% of the shares of the Austrian company S Immo. CPIPG, in its mandatory takeover offer, offered to buy out the shares of S Immo for €23.50 per share. This offer, available until August 12, 2022, was taken up by holders of approximately 36.66% of S Immo shares.
The offer from CPIPG could have been accepted in from 15 July 2022 until 12 August 2022. Until the end of this period, 26,983,707 S Immo shares have been tendered for sale into the offer. This represents a participation of approximately 36.66% in S Immo's registered nominal share capital.
Together with the S Immo shares held by CPIPG directly and indirectly via Immofinanz AG, CPIPG will in total at least hold 58,301,812 S Immo shares. This represents a participation of approximately 79.20% in S Immo's registered nominal share capital and – taking into account the treasury shares held by S Immo –approximately 82.67% of the voting rights.
The acceptance period will be extended for all S Immo shareholders who have not yet accepted the offer for three months from the announcement of the result (thus starts on 18 August 2022 and lasts until 18 November 2022). S Immo shareholders who have not yet accepted the offer may tender their S Immo shares at unchanged terms during the additional acceptance period.
