Global law firm Dentons advised CPI Property Group (CPIPG) in connection with a €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, Société Générale, Komerční Banka, UniCredit Bank Austria, and UniCredit Bank Czech Republic and Slovakia.
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.
Partners Jiří Tomola (Prague), Mark Segall (Warsaw) and senior associate Martin Manduľák (Prague) led Dentons’ legal team on the transaction with assistance from associate Ondřej Valeš (Prague). The team also included partner Stéphane Hadet, senior associate Christophe Renaudin and associate Yifan Zhang (all based in Luxembourg).
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. Dentons has advised the group on numerous high-value financing, capital markets and real estate transactions in recent years, including the €2.5 billion financing of its takeover offer for Immofinanz in December 2021.
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