S IMMO AG acquires portfolio of CPI Property Group in the Czech Republic
The listed company S IMMO AG today signed a contract for the acquisition of a portfolio totalling 11 properties from Czech Property Investments, a.s. ("CPI AS"), a subsidiary of CPI Property Group S.A., in the Czech Republic. The purchase comprises seven office properties, three commercial properties and a plot of land with a total lettable area of around 138,000 m², a property value of around EUR 481m and annual rental income of around EUR 29m.
The transaction involves CPI Property Group S.A., which is a related party of S IMMO AG within the meaning of section 95a (2) of the Austrian Stock Corporation Act (AktG). Further information on the transaction is available on the company's website at https://www.simmoag.at/fileadmin/redakteur/Investor_Relations/Corporate_Governance/Related-Party-Transaction-2023-11-EN.pdf.