- IMMOFINANZ starts negotiations to acquire CPIPG’s remaining 38.37% stake in S IMMO, potentially making IMMOFINANZ the 100% shareholder.
September 04 2024 14:19:00 UTC– IMMOFINANZ, a European real estate group, has entered into negotiations to purchase the remaining 38.37% stake in S IMMO AG from CPI Property Group (CPIPG). The deal involves acquiring 28,241,094 shares in S IMMO, potentially making IMMOFINANZ the sole shareholder of the company.
The transaction would be based on a fair market price, with an upper limit set at €22.05 per share, in line with the compensation offered to minority shareholders during the ongoing squeeze-out process. A negotiated discount is also expected. Additionally, CPIPG is anticipated to provide long-term financing to IMMOFINANZ for part of the purchase price.