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, 21 April 2023
CPI PROPERTY GROUP – Sale of Czech Properties to S IMMO
CPI PROPERTY GROUP (“CPIPG” or the “Group”) and S IMMO AG (“S IMMO”) today signed and completed an agreement regarding the sale and purchase of a property portfolio in the Czech Republic.
Under the agreement, CPIPG will sell S IMMO the Mayhouse and Luxembourg Plaza office buildings in Prague and the ZET.office in Brno, along with the hotel Courtyard by Marriott Prague City. The four assets have a total asset value of EUR 167.7 million and generate income of close to EUR 8.4 million.
The transaction qualifies as a related party transaction and is not counted as part of the Group’s EUR 2 billion external disposal pipeline. CPIPG owns 88.4% of S IMMO shares.
For further information, please contact:
Investor Relations
David Greenbaum Moritz Mayer
Chief Financial Officer Manager, Capital Markets
[email protected] [email protected]
For more on CPI Property Group, visit our website: www.cpipg.com
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