The CPI buys shopping malls, department stores in the region

The CPI Property Group anticipates the acquisition of a retail portfolio located in Hungary, the Czech Republic, Poland and Romania from funds managed by CBRE Global Investors.

The CPI Property Group announces that it has entered into a framework agreement under which subsidiaries of CPI Property Group will acquire the high-quality retail portfolio of predominantly 11 shopping centres located in the Czech Republic, Hungary, Poland and Romania (the “Portfolio”) from two funds managed by CBRE Global Investors.

The completion of the transaction is principally subject to antitrust approval in the Czech Republic and Hungary. The company shall file the relevant antitrust applications within the next couple of days. The closing of the transaction is anticipated in the first quarter of 2017. (MTI)