Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Next Re SIIQ S.p.A.
  6. News
  7. Summary
    NR   IT0005330516

NEXT RE SIIQ S.P.A.

(NR)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Nova Re on behalf of CPI PROPERTY GROUP – Investment in Nova RE” – 8 ottobre 2020 h 8:20

10/08/2020 | 06:35am EST

CPI PROPERTY GROUP (société anonyme)

40, rue de la Vallée L-2661 Luxembourg

R.C.S. Luxembourg: B 102 254

PRESS RELEASE

Luxembourg, 8 October 2020

CPI PROPERTY GROUP - Investment in Nova RE

CPI Property Group ("CPIPG" or the "Group") has prepared the following update for our stakeholders regarding a recent attractive and efficient investment in Italy.

On 2 October 2020, CPIPG submitted a binding offer to participate in a capital increase of Nova RE SIIQ S.p.A. ("Nova RE"). The offer was approved by the board of Nova RE on 7 October 2020. CPIPG will subscribe for newly issued shares of Nova RE at a price of €2.36 per share, for total consideration of about €26 million. Following the capital increase, CPIPG will own more than 50% of Nova RE and will launch a mandatory takeover offer for the remaining shares in Nova RE at €2.36 per share. The capital increase is subject to the approval of Nova RE's financing bank (standard change of control provision) and will be funded with cash.

Nova RE owns income-generating properties primarily in Rome, Milan, and Bari valued at €123.3 million as of 30 June 2020. Nova RE is one of only five Italian companies to obtain SIIQ (Società di Investimento Immobiliare Quotata) status, which is similar to a REIT regime and offers tax benefits for investors.

CPIPG expects that Nova RE will be a platform for the Group's current and future investments in Italy. The Nova RE management team is experienced and capable, and will benefit from CPIPG's organisation, resources, support and expertise. CPIPG has a solid track record in Italy, with a property portfolio valued at €67 million at 30 June 2020. Through Nova RE, CPIPG may consider further investments in Italy where exceptional value can be created. By acquiring control of an SIIQ, CPIPG also gains a tax-efficient platform to attract third-party equity investors in the future.

"The acquisition of Nova RE brings strategic efficiencies to CPIPG's investments in Italy," said Martin Nemecek, CEO. "Italy is a small portion of the Group's property portfolio, but we are excited to have a well-managed platform for future growth."

The newly issued Nova RE shares will carry the same rights as Nova RE's outstanding ordinary shares. The new shares will not be traded on the Electronic Stock Market organized and managed by Borsa Italiana S.p.A. (Mercato Telematico Azionario or MTA) immediately upon their issue, but are expected to be listed at a later date in accordance with the results of the takeover bid and regulatory requirements.

For more on CPI PROPERTY GROUP, visit our website: www.cpipg.com.

For further information please contact:

INVESTORS

CPI PROPERTY GROUP David Greenbaum Chief Financial Officer d.greenbaum@cpipg.com

MEDIA/PR

Kirchhoff Consult AG

Andreas Friedemann

T +49 40 60 91 86 50, F +49 40 60 91 86 60 E andreas.friedemann@kirchhoff.de

CPI PROPERTY GROUP Joe Weaver

Director of Capital Markets j.weaver@cpipg.com

Questo è un estratto del contenuto originale. Per continuare a leggere, accedi al documento originale.

Disclaimer

Nova Re S.p.A. published this content on 08 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2020 10:34:08 UTC


ę Publicnow 2020
All news about NEXT RE SIIQ S.P.A.
11/17NOVA RE SIIQ S P A : Condensed Half-Year Financial Report 2021
PU
09/14Nova Re SIIQ S.P.A. Reports Earnings Results for the Half Year Ended June 30, 2021
CI
08/06CPI Property Signs Framework Deal to Possibly Sell Up to $1.2 Billion Nova RE Shares
MT
03/18NOVA RE SIIQ S P A : Approved the Annual Financial Report as at 31 December 2020 and conve..
PU
03/15Nova Re Siiq S.P.A. Reports Earnings Results for the Full Year Ended December 31, 2020
CI
2020NOVA RE SIIQ S.P.A. ON BEHALF OF CPI : communication pursuant to article 102 of Legislativ..
PU
2020NOVA RE ON BEHALF OF CPI PROPERTY GR : 20
PU
2020NOVA RE SIIQ S P A : Proposta di delega ex art. 2443 del codice civile sottoposta all'appr..
PU
2019NOVA RE SIIQ S.P.A. (BIT : NR) cancelled the acquisition of three hotels In Verona, Bologn..
CI
2019ALLEGATO 3F – 3 DICEMBRE 2019 : 01
PU
More news
Financials
Sales 2020 5,98 M 6,77 M 6,77 M
Net income 2020 -9,32 M -10,6 M -10,6 M
Net Debt 2020 38,6 M 43,7 M 43,7 M
P/E ratio 2020 -3,25x
Yield 2020 -
Capitalization 77,8 M 87,9 M 88,1 M
EV / Sales 2019 16,4x
EV / Sales 2020 10,8x
Nbr of Employees 9
Free-Float 3,55%
Chart NEXT RE SIIQ S.P.A.
Duration : Period :
Next Re SIIQ S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NEXT RE SIIQ S.P.A.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Managers and Directors
Stefano Cervone Managing Director, General Manager & Director
Giovanni Cerrone Chief Financial Officer
Giancarlo Cremonesi Chairman
Giovanni Naccarato Independent Director
Maria Spilabotte Independent Director
Sector and Competitors
1st jan.Capi. (M$)
NEXT RE SIIQ S.P.A.47.68%87
EQUINIX, INC.11.82%71 908
DIGITAL REALTY TRUST, INC.16.72%47 024
REALTY INCOME CORPORATION11.86%38 204
ALEXANDRIA REAL ESTATE EQUITIES, INC.11.21%31 397
SEGRO PLC47.27%22 330