CPI PROPERTY GROUP
CPI PROPERTY GROUP – ACQUISITION OF ADDITIONAL STAKES IN HOSPITALITY INVEST
DGAP-News: CPI PROPERTY GROUP / Key word(s): Acquisition 19.12.2014 / 17:29 --------------------------------------------------------------------- Luxembourg, 19 December 2014 CPI PROPERTY GROUP - ACQUISITION OF ADDITIONAL STAKES IN HOSPITALITY INVEST CPI PROPERTY GROUP (the "Company") announces that it increased its stakes in Hospitality Invest S.a.r.l. ("HI"). Further to the acquisition of 50% HI shares announced by the Company on 25 April 2014, the Company today acquired 88% shares in entities holding the remaining 50% shares in HI from ORCO PROPERTY GROUP. As such, the Company directly and indirectly holds 94% of HI as of today. The transaction comprised of transfer of shares as well as of intercompany loans at current fair value (NAV). The overall transaction price amounts to EUR 13.3 Million. The existing HI portfolio is mostly operated under the brand Mamaison Hotels and Residences (www.mamaison.com) and represented a unique collection of well-established luxury boutique hotels and all-suite residences, mostly located in prime central locations of the CEE capitals (Prague, Warsaw, Budapest, Bratislava and Moscow). For further information please contact: Kirchhoff Consult AG Sebastian Bucher Herrengraben 1 20459 Hamburg T +49 40 60 91 86 18 F +49 40 60 91 86 60 E sebastian.bucher@kirchhoff.de --------------------------------------------------------------------- 19.12.2014 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: CPI PROPERTY GROUP 40, rue de la Vallée L-2661 Luxembourg Grand Duchy of Luxembourg Phone: +49 (0)30 440123120 Fax: +49 (0)30 390 93 199 E-mail: InvestorRelations@gsg-group.de Internet: www.gsg-group.de ISIN: LU0251710041 WKN: A0JL4D Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Düsseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 307813 19.12.2014
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