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Dentons Advises CPI Property Group on EUR 1.25 Billion Financing of Takeover Offer Over S IMMO AG

Dentons Advises CPI Property Group on EUR 1.25 Billion Financing of Takeover Offer Over S IMMO AG

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Dentons has advised the CPI Property Group on the EUR 1.25 billion bridge loan facility to help finance its takeover offer for all outstanding shares for S IMMO.

The banks that provided the financing include Banco Santander, Bank of China, Barclays Bank, Credit Suisse, Goldman Sachs Bank, Raiffeisen Bank International, Societe Generale, Komercni Banka, UniCredit Bank Austria, and UniCredit Bank Czech Republic and Slovakia.

CPI Property Group is one of the largest owners of income-generating real estate in Europe, focused primarily on the Czech Republic, Berlin, and the CEE region.

According to Dentons, “CPIPG requested S IMMO to convene an extraordinary shareholders' meeting of S IMMO to resolve on the abolishment of the S IMMO’s voting cap and announced CPIPG’s intention to launch a cash offer to all S IMMO shareholders to acquire their shares. The property portfolio of S IMMO is complementary to CPIPG’s regional and sector exposure. Through its expanded shareholding, the company intends to play a more active role in the future development of S IMMO's business.”

Dentons’ team included Prague-based Partner Jiri Tomola, Senior Associate Martin Mandulak, and Associate Ondre Vales, Warsaw-based Partner Mark Segall, along with a further team in Luxembourg.

Dentons did not reply to our inquiry on the matter.

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