December 16, 2021 | Real Estate | Europe | Ended
On 3-Dec-21, German-listed and Luxembourg-incorporated CPI Property Group (O5G GR, “CPI”) announced plans to launch a mandatory offer for all outstanding shares in Immofinanz, a leading Austrian real estate company. The offer will be launched once CPI completes a purchase of a 10.6% stake in Immofinanz that, when added to the 21.4% it already holds, will take CPI beyond the 30% mandatory offer threshold required under Austrian takeover law. The additional stake purchase will be through a share purchase agreement with RPPK Immo and requires antitrust approvals from Austria, Germany, the Czech Republic, Hungary, Poland, Romania, Serbia, and Slovakia. The €21.20 per share mandatory offer is not subject to ...
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