CPI PROPERTY GROUP
CPI PROPERTY GROUP – Acquisitions in Crans-Montana Ski Resort
DGAP-News: CPI PROPERTY GROUP / Key word(s): Acquisition 2015-11-02 / 18:09 --------------------------------------------------------------------- CPI PROPERTY GROUP - Acquisitions in Crans-Montana Ski Resort CPI PROPERTY GROUP (the "Company") announces major acquisitions in Crans-Montana ski resort in Switzerland. On 30 October 2015 the Company completed a transaction comprised of the direct acquisition of 65.83% of shares in Remontées Mecaniques Crans-Montana-Aminona (CMA) SA ("CMA SA"), a Swiss entity holding and operating cable cars in the Crans-Montana ski resort and of 88.49% of shares in CMA Immobilier SA, a Swiss entity holding certain real estate and rights to develop a hi-end hotel complex including spa, congress centre, shopping and entertainment areas as well as parking in Crans-Montana. In addition to the 88.49% of shares in CMA Immobilier SA acquired directly by the Company, CMA SA is holding additional 11.21%, resulting in an aggregate stake of 99.7% in CMA Immobilier SA. The aggregate acquisition price is EUR 65 million, out of which EUR 44 million is paid by the Company notes. The transaction has been originated and presented to the Company by Mr. Radovan Vítek, the major shareholder of the Company, who is the transferor of the CMA portfolio. Approximately 29% of the shares and voting rights in CMA SA are held by local communes and municipalities of the Crans-Montana region, whose presence in the CMA portfolio is perceived by the Company as very positive, since they are stable shareholders, linked with the project and the ski-resort. Crans-Montana is a ski resort in southwestern Switzerland, in the heart of the Swiss Alps in the French-speaking part of the canton of Valais. It is considered one of top Swiss resorts, together with Davos, St. Moritz, Verbier, and Zermatt. The skiing area of Crans-Montana is composed of 140 km of marked pistes, plus freeride areas and includes the glacier of Plaine Morte. The skiing area altitude ranges between 1,500 meters (resort altitude) and 3,000 meters (Plaine-Morte Glacier). For more information visit http://www.crans-montana.ch/. Mr. Martin Nemecek, CEO of the Company stated: "This business opportunity is being considered a high-potential long-term investment that will perfectly fit the Company portfolio along with other luxury projects such as Palais Maeterlinck in Nice and Porto Cervo villas in Sardinia as well as its hospitality portfolio. The Company is proud about its first acquisition in Switzerland, which represents the investment in a stable economy as well as diversification of Company's portfolio towards Western Europe." 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 --------------------------------------------------------------------- 2015-11-02 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: +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 End of News DGAP News Service --------------------------------------------------------------------- 407831 2015-11-02
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