CPI PROPERTY GROUP - Disposal of Czech Portfolio to S IMMO AG

EQS-News: CPI PROPERTY GROUP / Key word(s): Contract/Real Estate
CPI PROPERTY GROUP - Disposal of Czech Portfolio to S IMMO AG

25.04.2024 / 12:41 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254

Press Release - Corporate News

Luxembourg, 25 April 2024

CPI PROPERTY GROUP - Disposal of Czech Portfolio to S IMMO AG

CPI PROPERTY GROUP ("CPIPG" or the "Group") is pleased to announce the
signing of a binding agreement for the sale of a portfolio totalling 6
properties located in the Czech Republic to S IMMO AG.

Today, a subsidiary of CPIPG signed a contract with a subsidiary of S IMMO
AG for the sale of two office buildings, two shopping centres, a mixed-use
property and a single-tenant retail building with a total lettable area of
around 136,000 m², located in the Czech Republic. The transaction property
value is EUR 463 million and annual rental income of around EUR 28.3
million. After the deduction of financial liabilities (approx. EUR 236
million), other balance sheet adjustments (approx. EUR 10.5 million) and
commercial deductions (approx. EUR 40.5 million), the net consideration is
approx. EUR 176 million, subject to standard balance sheet adjustments.
Approximately EUR 76 million of the net proceeds will be financed initially
by a vendor loan.

The transaction qualifies as a related party transaction given that CPIPG
indirectly consolidates S IMMO AG.

For further information, please contact:

Investor Relations

Moritz Mayer
m.mayer@cpipg.com

For more on CPI Property Group, visit our website: www.cpipg.com
Follow us on X (CPIPG_SA) and LinkedIn


---------------------------------------------------------------------------

25.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---------------------------------------------------------------------------

   Language:       English
   Company:        CPI PROPERTY GROUP
                   40, rue de la Vallée
                   L-2661 Luxembourg
                   Luxemburg
   Phone:          +352 264 767 1
   Fax:            +352 264 767 67
   E-mail:         contact@cpipg.com
   Internet:       www.cpipg.com
   ISIN:           LU0251710041
   WKN:            A0JL4D
   Listed:         Regulated Market in Frankfurt (General Standard);
                   Regulated Unofficial Market in Dusseldorf, Stuttgart
   EQS News ID:    1889645

End of News EQS News Service
---------------------------------------------------------------------------

1889645 25.04.2024 CET/CEST