Press Release
Luxembourg, 2 December 2016
ORCO PROPERTY GROUP - Intragroup Disposals and Acquisitions of Projects.
ORCO PROPERTY GROUP (the "Company" or OPG"), a 97% subsidiary of CPI PROPERTY GROUP ("CPI"), announces intragroup disposals and acquisitions of real estate projects with the CPI group.
On 1 December 2016 OPG disposed to the CPI group two of its income producing assets located in Prague, namely Palac Archa and Hradcanska Office Center. On 1 December 2016 OPG acquired from the CPI group development projects located in the Czech Republic, comprising of land bank for future developments.
All these transactions were structured as share deals and prices were based at the IFRS NAV. OPG proceeded with these transactions in line with its strategy focusing on development projects.
For more information, visit www.orcogroup.com
