CPI Property Group S.A. entered into a framework agreement to acquire a retail portfolio in Czech Republic, Hungary, Poland and Romania from CBRE Global Value Investors, LLC for CZK 17.5 billion on January 16, 2017.
January 15, 2017
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CPI Property Group S.A. (XTRA:O5G) entered into a framework agreement to acquire a retail portfolio in Czech Republic, Hungary, Poland and Romania from CBRE Global Value Investors, LLC for CZK 17.5 billion on January 16, 2017. CPI Property Group funded the transaction with €440 million (CZK 11.9 billion) through bank financing arranged through several loans and remaining with its own funds. The bank syndicate that provided loan constitutes Helaba and CSOB in Czech Republic, Helaba in Poland, UniCredit Bank, Raiffeisenbank and Sberbank in Hungary and HypoNoe Bank in Romania.
The deal is subject to regulatory approvals and antitrust approvals in the Czech Republic and Hungary and is expected to close in the first quarter of 2017. Andrew Stammler of Kirchhoff Consult AG acted as PR advisor in the deal. Evan Z. Lazar, Stewart Middleman, Markéta Tvrda, Christopher Colclough, Judit Kovári, Marcell Szonyi, Monika Sitowicz, Lukasz Zwiercan, Perry Zizzi and Bogdan Papandopol of Dentons Prague acted as legal advisors to CPI Property Group in the transaction. CSOB acted as escrow agent in the transaction. CBRE acted as commercial advisor, Sentient acted as technical advisor and KPMG acted as financial and tax advisor to CPI Property Group. Cushman & Wakefield acted as real estate advisor for CBRE Global Value Investors, LLC. Clifford Chance US LLP acted as legal advisor for CBRE Global Value Investors, LLC. Acardis acted as management advisor for CBRE Global Value Investors, LLC. Klára Štepánková, Leo Javorek and Kamil Blažek of KINSTELLAR advised Helaba and CSOB in the transaction.
CPI Property Group SA, formerly GSG Group SA, is a Luxembourg-based company active in real estate sector with operations in Germany, the Czech Republic, Hungary, Poland, Russia, Croatia, Switzerland and Slovakia. The Company is principally engaged in leasing out investment properties and developing properties for its own portfolio. It has two segments: Property Investments, its core segment, and Development. The core segment comprises investment in commercial properties through acquisition, rental of properties and property portfolios, especially in long-term ownership of the properties. The Development segment focuses on commercial projects and the conversion of some Kreuzberg commercial assets into residential units to be sold; this includes property acquisition, planning and obtaining building rights, project implementation and sale/rental of the realized projects to investors and tenants. The Company operates Remontees Mecaniques Crans Montana Aminona SA as a subsidiary.
CPI Property Group S.A. entered into a framework agreement to acquire a retail portfolio in Czech Republic, Hungary, Poland and Romania from CBRE Global Value Investors, LLC for CZK 17.5 billion on January 16, 2017.
CPI PROPERTY GROUP 
