CPI Property Group (CPIPG) announced the acquisition of 13,391,959 shares (approximately 6% of shares outstanding) of Globalworth Real Estate Investments Limited. CPIPG acquired the shares through a broker on the secondary market, according to a press release sent to the Budapest Business Journal.
Founded in 2013, Globalworth is a leading owner of income-generating office properties in Poland and Romania with about EUR 2.8 billion of assets generating more than EUR 180 million of gross rental income each year. Globalworth’s best-in class assets include Skylight & Lumen in Warsaw and Globalworth Tower in Bucharest.
Globalworth says that it benefits from a solid investment grade capital structure, strong governance practices and highly experienced management.
"Globalworth has one of the best office portfolios in the CEE region," said Martin Nemecek, CEO of the group. "We believe Globalworth will continue to deliver excellent returns and are proud to introduce CPIPG as a supportive shareholder."
Considering CPIPG’s financial policy, commitment to credit ratings and current capital structure, the group says that it does not intend to make a takeover offer for Globalworth in the near future.
As a new shareholder, CPIPG says that it looks forward to sharing ideas and common experiences with Globalworth’s management, employees and other stakeholders.