CPI Property S A : GROUP - Strategic Partnership with DeA Capital in Italy
August 06, 2021 at 02:33 am EDT
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DGAP-News: CPI PROPERTY GROUP
/ Key word(s): Strategic Company Decision/Real Estate
CPI PROPERTY GROUP - Strategic Partnership with DeA Capital in Italy
06.08.2021 / 08:32
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, 6 August 2021
CPI PROPERTY GROUP - Strategic Partnership with DeA Capital in Italy
CPI PROPERTY GROUP ("CPIPG" or the "Group") is pleased to share an important milestone in the Group's investment strategy in Italy.
On 5 August 2021, a framework agreement was signed between CPIPG, certain companies of the DeA Capital Group ("DeA Capital") and Nova RE SIIQ S.p.A. ("Nova RE").
CPIPG is the majority owner of Nova RE, which is an Italian SIIQ (REIT) listed on the Milan Stock Exchange. DeA Capital is the leading independent platform for alternative asset management in Italy, with combined AUM of nearly ?25 billion including more than ?10 billion invested in real estate.
The framework agreement includes a plan to transform a rebranded Nova RE into Italy's leading SIIQ, with attractive potential returns, a strengthened equity investor base, improved liquidity, and a conservative capital structure. DeA Capital Real Estate SGR S.p.A., will become Nova RE's exclusive external asset management advisor and will provide a broad range of services to enhance the investment, financial and operational capabilities of Nova RE.
"A key near-term goal of our partnership is a primary offering of Nova RE shares for up to ?1 billion," said David Greenbaum, CFO of CPIPG. "Fresh equity investment and active cooperation with DeA Capital will allow CPIPG to capture attractive growth opportunities in Italy going forward."
In connection with the framework agreement, DeA Capital has agreed to purchase approximately 1.1 million shares (about 5%) of Nova RE from CPIPG and intends to remain a long-term and supportive shareholder for the future growth and capital raising of Nova RE.
"DeA Capital is excited to work with CPIPG and Nova RE to develop a market-leading Italian REIT with strong appeal to investors," said Emanuele Caniggia, CEO of DeA Capital Real Estate SGR. "Our combined expertise is certain to lead to a fruitful partnership."
For further information regarding the framework agreement and the strategic partnership with DeA Capital in Italy, please see Nova Re website www.novare.it/news-comunicati/comunicati and/or contact:
Investor Relations
David Greenbaum
Chief Financial Officer
d.greenbaum@cpipg.com
Joe Weaver
Director of Capital Markets
j.weaver@cpipg.com
For more on CPI Property Group, visit our website www.cpipg.com Follow us on Twitter (CPIPG_SA) and LinkedI
06.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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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
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 
