Clifford Chance

Clifford Chance advises CPI Property Group in relation to EUR 300 million subscription of shares by Apollo

Clifford Chance was legal adviser to CPI Property Group ("CPIPG" or the "Group") in connection with the subscription by funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, Inc. of new ordinary shares representing approximately 5.5% of CPIPG's share capital for EUR 300 million.

CPIPG is the largest owner of income-generating real estate in the Czech Republic, Berlin and the CEE region with a property portfolio exceeding EUR 11 billion. The Group’s majority shareholder and founder Radovan Vítek also subscribed for 243,506,494 new ordinary shares of CPIPG at €0.616/share, increasing the Group’s equity by a further EUR 150 million. CPIPG will therefore have successfully raised EUR 550 million of equity from Mr. Vítek and the Apollo Funds together during the second half of 2021.

Apollo Global Management is a high-growth, global alternative asset manager and investor operating in North America, Europe, Middle East, Asia, Australia and Latin America. Apollo manages assets of approximately USD 481 billion in credit, private equity, and real assets funds.

The international Clifford Chance team was led by Prague Managing Partner and Head of Corporate Alex Cook. Alex was mainly supported by Senior Associate Vladimír Rýlich and Associate Tomáš Procházka. The Luxembourg team was led by Senior Partner and Head of Corporate and Capital Markets Christian Kremer, primarily supported by Senior Advisor Louis Mamère, Associate Konrad Kanaan, Counsel Udo Prinz, Senior Associate Yolanda-Alma Ghita-Blujdescu, with additional support from Partner Stefanie Ferring and Senior Advisor Yi Wang. The Frankfurt team was led by Partner Philipp Klöckner, supported by Counsel Nico Feuerstein and Associate Mira Zimmermann. The team also received support from colleagues in the London office.

The Clifford Chance Corporate team has recently also advised Allegro on its acquisition of Mall Group and WE|DO. You can read more about this matter here.