The Executive Board and Supervisory Board welcome the intention of the CPI Property Group (CPIPG) to benefit from the company’s attractive growth potential and support the development and expansion of IMMOFINANZ as a long-term major shareholder. However, the price offered by CPIPG for the IMMOFINANZ share is significantly lower than the current value of the company and does not reflect IMMOFINANZ’s substantial growth potential. The price also fails to include an appropriate control premium for CPIPG’s announced intention to attain control over IMMOFINANZ.

The Executive Board, Supervisory Board and Works Council of IMMOFINANZ today issued statements in which they indicate that the offer price of EUR 21.20 per share is viewed as not attractive and recommend that investors not accept the offer by CPIPG for IMMOFINANZ’s shares and convertible bonds.