BPV Huegel has advised Immofinanz on the acquisition of a further approximately 38% stake in S IMMO via a share acquisition from CPI Property Group for EUR 608.5 million. Wolf Theiss advised CPI Property Group.
Immofinanz Group is a commercial real estate group whose activities are focused on the office and retail segments in Austria, Germany, Poland, the Czech Republic, Slovakia, Hungary, Romania, and the Adriatic region.
According to BPV Huegel, the transaction resulted in Immofinanz Group now owning approximately 89% of S IMMO. "The purchase price for the transaction amounts to EUR 608.5 million, which corresponds to a price of EUR 21.55 per S IMMO share. This results from the cash compensation of EUR 22.05 to be paid to the minority shareholders of S IMMO in the course of the planned squeeze-out less a discount of EUR 0.50 per share. The transaction will be partly financed through a long-term credit facility of EUR 500 million at market conditions provided to Immofinanz by CPIPG."
In 2022, BPV Huegel and Wolf Theiss advised on Immofinanz's increase of shareholding in S IMMO to 50% plus one share (as reported by CEE Legal Matters on December 23, 2022).
The BPV Huegel team included Partners Christoph Nauer, Ingo Braun, and Nicolas Wolski, Attorney at Law Roland Juill, and Associates Barbara Valente and Daniel Maurer.
The Wolf Theiss team included Partners Florian Kusznier and Claus Schneider.
