ARTICLES LABELLED WITH TAG Immofinanz

News CPIPG now set to hold over 50% of Immofinanz voting rights
24
Feb
2022

CPIPG now set to hold over 50% of Immofinanz voting rights

by Property Forum
With the ending of the acceptance period of its takeover offer for Immofinanz, CPI Property Group announced that it will soon hold at least 53.33% of Immofinanz’s share capital and voting rights.
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News Immofinanz issues statement on CPIPG takeover
16
Feb
2022

Immofinanz issues statement on CPIPG takeover

by Property Forum
The Executive Board and Supervisory Board of Immofinanz have issued supplementary statements on the announcement by CPI Property Group SA (CPIPG) of the increase in the offer price to €23.00 per share (cum dividend) and increase in CPIPG’s investment in Immofinanz to roughly 48.18% through the purchase of shares from S Immo AG. The Executive Board and Supervisory Board still view the improved offer price as too low given the successful development of Immofinanz and the current value of the company. Moreover, the offer price does not include an appropriate control premium in connection with CPIPG’s intention to attain control over Immofinanz.
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News Change of guard in CEE: The birth of a €20 billion empire
11
Feb
2022

Change of guard in CEE: The birth of a €20 billion empire

by Ovidiu Nicolae
Czech businessman Radovan Vítek has amassed a fortune estimated at around €4.1 billion while increasing his influence in the European property sector. Vítek holds firm control of CPI Property Group, the company he founded with assets topping €11 billion and has gradually built majority stakes in Globalworth and Immofinanz, both competing groups in Central and Eastern Europe. By purchasing controlling participations in these companies, Vítek could build his property investment empire across CEE to the tune of around €20 billion and 7 million sqm of developed space, covering every country and asset class in the region. This story is a prime example of the rise and strength of local capital in CEE, in addition to the gradual decline of influence held by Austrian companies over the region.
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News CPI Property Group acquires S Immo's stake in Immofinanz
01
Feb
2022

CPI Property Group acquires S Immo's stake in Immofinanz

by Property Forum
CPI Property Group and a subsidiary of S Immo (CEE Immobilien GmbH) signed an agreement concerning the acquisition of 17,543,937 Immofinanz shares, corresponding to a participation of approx. 12.69% of the total nominal share capital of Immofinanz. The agreement also covers the acquisition of additional shares eventually tendered into the voluntary partial tender offer for shares of Immofinanz published by CEE Immobilien GmbH on 23 December 2021. The purchase price per share amounts to €23.00 cum dividend. Following the transaction, CPIPG has undertaken to improve its takeover offer price (from the previous €22.70) in accordance with the Austrian Takeover Act accordingly.
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News CPI increases offer price, Immofinanz still finds it too low
27
Jan
2022

CPI increases offer price, Immofinanz still finds it too low

by Property Forum
CPI Property Group is continuing its efforts towards the takeover of Immofinanz. It has increased its holding in Immofinanz to 35.5% and subsequently also increased its offer price.
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News Immofinanz deems CPI offer price too low
26
Jan
2022

Immofinanz deems CPI offer price too low

by Property Forum
The Executive Board, Supervisory Board and Works Council of Immofinanz issued statements in which they indicate that the offer price of €21.20 per share is viewed as not attractive and recommend that investors not accept the offer by CPIPG for Immofinanz’s shares and convertible bonds.
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News Immofinanz finds S Immo offer price too low
10
Jan
2022

Immofinanz finds S Immo offer price too low

by Property Forum
In early December 2021, S Immo announced a partial takeover to the shareholders of Immofinanz, only three days after a similar offer was made by CPI Property Group. Today, the Executive Board, Supervisory Board and Works Council of Immofinanz have issued statements in which they indicate that the offer price of €23.00 per share is viewed as not sufficiently attractive. The Executive Board and Supervisory Board, therefore, recommend that shareholders not accept the partial offer by S Immo for approximately 10% of the outstanding Immofinanz shares.
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News Immofinanz buys plots for retail parks in Croatia for €80 million
22
Dec
2021

Immofinanz buys plots for retail parks in Croatia for €80 million

by Property Forum
Immofinanz is following its market entry in Italy with the expansion of its Stop Shop retail park brand across the Adriatic region in line with the corporate strategy. In Croatia, plans call for an increase in the number of Stop Shops from the current level of 4 to more than 20 locations over the medium term. The completion of a newly developed Stop Shop and the expansion of an existing location is scheduled for the first half of 2022. Detailed market and location analyses indicated high demand by the Croatian population for decentralised, local supplies. This conclusion led to a decision by Immofinanz to secure 22 sites in medium-sized Croatian cities for the development of Stop Shop retail parks. The purchase price for these sites totals approximately €80 million.
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News Immofinanz wants to reach emission-free status by 2040
17
Dec
2021

Immofinanz wants to reach emission-free status by 2040

by Property Forum
Immofinanz announced its new Net Zero Emission Strategy. Plans call for a reduction of 60% (below the 2019 level) in all greenhouse gas emissions by 2030 – and by 2040, the company intends to be emission-free along the entire value chain.
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News Hard to keep track – A timeline of the Austrian takeover saga
15
Dec
2021

Hard to keep track – A timeline of the Austrian takeover saga

by Property Forum
Immofinanz has recently received takeover offers from both CPI Property Group and S Immo in the latest chapter of the Austrian takeover saga. During the last couple of years, the three major Austrian real estate companies – Immofinanz, CA Immo and S Immo – have received (and usually rejected) numerous takeover offers with mergers in almost every possible combination also having been discussed. To help its readers keep track, Property Forum has put together a timeline of all the offers that were announced since 2014.
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Latest news


New leases

  • CTP has signed a new lease agreement with long-term client Raben Romania, which has taken 1,800 sqm at CTPark Brașov West.
  • Another fast-growing Polish company has picked Metropolitan Warsaw for its headquarters. Rock Capital, a leading retail park developer and investor in Poland, now occupies modern office space overlooking the Grand Theater and Moliera Street. The Rock Capital's new headquarters, designed by BIT CREATIVE studio and its founder Barnaba Grzelecki, spans 460 sqm of premium office space on the first floor.
  • The largest retail chain in Poland offering RTV/AGD equipment has leased over 4,200 sq m of modern space in the MLP Poznań logistics centre. Media Expert will start operating in the new location in July 2025. The company was advised by Cushman & Wakefield in the leasing process

New appointments

  • Former Taylor Wessing Counsel and Head of Real Estate Peter Malovec has joined CTP Slovakia as its new Head of Legal.
  • Matexi Polska is strengthening its management structure. Jesika Mackiewicz has joined the management boards of companies implementing residential projects in Warsaw. This manager, with over 10 years of experience in the real estate industry, will support Matexi Polska's continued growth in the capital market.
  • Elżbieta Majdan is joining the Property & Asset Management team at Savills Poland as an Associate Director. Elżbieta brings 15 years of experience in managing and commercialising retail properties, gained while implementing key projects on the Polish market.

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