Clifford Chance has advised the CPI Property Group on the EUR 300 million subscription of new ordinary shares representing approximately 5.5% of CPIPG's share capital by Apollo Global Management affiliate managed funds. Allen & Overy reportedly advised Apollo on the deal.
According to Clifford Chance, “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 Vitek also subscribed for 243,506,494 new ordinary shares of CPIPG at EUR 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. Vitek and the Apollo Funds together, during the second half of 2021.”
Apollo Global Management is a high-growth, alternative asset manager and investor operating in North America, Europe, the 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 Alex Cook and included Senior Associate Vladimir Rylich and Associate Tomas Prochazka, with further teams in Luxembourg, Frankfurt, and London.
Editor's note: After this article was published, Allen & Overy announced that it had advised Apollo Global Management on the deal. The firm's team included Poland-based Partner Michal Matera, Counsel Piotr Przybylski, and Associates Krystyna Fatyga and Mateusz Rydzewski, Czech Republic-based Partner Petr Vybiral, Counsel Petra Mysakova, Senior Associate Jana Trhlikova, and Associates Martin Bytcanek, Tomas Kafka, Lucie Cerna, and David Bujgl, with further teams in the UK, Luxembourg, and Germany.