WOOD Flash – S Immo: CPIPG increases its stake to 88.4%, Immofinanz to acquire controlling stake in S Immo
The extended offer period of CPIPG’s bid for S Immo expired on 18 November. Currently, CPIPG controls 88.37% of S Immo, 45.5m shares (61.9%) directly, and additional 19.5m shares (26.5%) via Immofinanz. Not having exceeded 90%, we understand that the purchase should not trigger an obligation to pay taxes in Germany. Following the offer, CPIPG indicated that it plans to sell part of the stake to Immofinanz, which should become a controlling shareholder in S Immo. This should allow Immofinanz to fully consolidate S Immo in its own financials. Immofinanz indicated that CPIPG would provide the financing for the transaction.S Immo AG is an Austria-based company engaged in the real estate sector. The Company specializes in the acquisition, letting and sale of properties. Furthermore, It offers real estate project developments, which includes Einsteinova office, Quartier Belvedere Central, and The Mark office project, among others, renovation of existing properties, asset and portfolio management and a range of services, such as facility management and brokerage. The Company's real estate portfolio comprises residential, office, retail and hotel properties. It operates four geographical segments: Austria, Germany, Central Europe (CEE) and Southeastern Europe (SEE). In addition, the Company is a parent of CEE Immobilien GmbH, Hansa Immobilien EOOD, Rega Property Invest sro, Ikaruspark GmbH, SC Societate Dezvoltare Comercial Sudului (SDCS) SRL, Maior Domus Hausverwaltung GmbH, and Eurocenter doo, among others.
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