Immofinanz Group is acquiring a further 28,241,094 shares in S Immo from its core shareholder CPI Property Group, thus increasing its stake in S Immo to around 89%.
The purchase price amounts to €608.5 million or €21.55 per S Immo share and results from the cash compensation of €22.05 to be paid to the minority shareholders of S Immo in the course of the planned squeeze-out, less a discount of €0.50 per share. The transaction will be partly financed through a long-term credit facility of €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.
