CEFC China Energy Company Limited (“CEFC”) and CPI Property Group ("CPIPG") agreed in principle that CEFC will purchase from CPIPG the former Zivnobanka building located at Na Prikope street in the very downtown of Prague and both CEFC and CPIPG will co-operate on the unique Glass Experience Museum currently being developed by CPIPG and its partners. The transaction is subject to final agreement. For CEFC, the acquisition of a landmark building is yet another step in its major expansion plan in Europe. CEFC has selected the Czech Republic as a key country for its European operations. The former Zivnobanka building has been chosen to best serve the purpose of the firm’s European headquarters. “We truly value the unique architecture, excellent location as well as the spirit of the building which served as a seat of a bank for a long time. CEFC is a financial institution and as such it wishes to follow up with the legacy of the building,” commented Chan Chauto, the President of CEFC. CPIPG acquired the building in 2011 from UniCredit Bank. It has planned a unique redevelopment of the building into prime offices, retail space as well as an exceptional museum of glass called ZIBA Glass Experience Museum. The Glass Experience Museum shall present exhibitions of the Czech and international modern glass and until now it has gained support of the art community as well as city officials. CEFC and CPIPG agreed to continue with the development of the Glass Experience Museum and to co-operate with artists and companies that have taken part in the project. “We are proud that CEFC selected the offices at the Zivnobanka building for its corporate seat in Europe. We wished to find a prime company which would be able to adequately use the premises. No less important is the fact that CEFC will join us as a partner for the Glass Experience Museum and there is potential for further business co-operation between our firms in the future,” added Zdeněk Havelka, the Executive Director of CPIPG. About Zivnobanka building The building was designed by architect Osvald Polívka for the former Land Bank (Zemska banka) and was erected in 1896. Designed in opulent Neo-Renaissance style, the palace went on to headquarter other prestigious banking institutions Zivnostenska Banka and the UniCredit Bank. Recognized for its exceptional architecture, exquisite interiors and historic significance, the late 19th century palace is a Protected National Cultural Monument. About CEFC CEFC China Energy Company Limited is a leading private company in Shanghai and the 6th biggest in China. The company operates primarily in finance, energetics and industry. Its presence is for example in the USA, Great Britain, Canada, Mexico, Russia, UAE, Indonesia, Singapore, South Korea or Japan. CEFC was included in the top 500 companies in the world and repeatedly ranked among the 10 most influential companies in China. From 2013, the Company distributed in the charity and cultural activities over CZK 2 billion and during the last 4 years has been recognized as one of the top 10 largest charitable donors in China. CEFC has decided to expand into Europe and selected the Czech Republic as the headquarters of its European activities. About CPIPG CPI Property Group is a leading real estate company concentrating on long-term investments and the lease of real estate predominantly in Central Europe and Germany. In 2014 a new majority shareholder Mr Radovan Vítek has brought to CPI Property Group not only a valuable real estate portfolio, but also more than 20 years of successful investment experience in CEE markets. The Group has its registered seat in Luxembourg and is listed on the Regulated Market of the Frankfurt Stock Exchange. CPI Property Group now manages a well-balanced and diversified portfolio with the value over €4.4 billion, which includes a wide range of properties located in Germany, the Czech Republic, Slovakia, Hungary, Poland and Romania. Office and retail yielding properties form a core portfolio with residential, hotel and logistic properties bringing advantages from either low-risk profile or higher yields. The Group operates also in the development of new projects, investments in a portfolio of land and agricultural business.
