The real estate group CPI Property Group, owned by Czech billionaire Radovan Vítek, has sold a majority stake in its facility management division, including building management and operation to M2C, a company that provides security, maintenance, and cleaning services.
“This step is related to our long-term strategy, which aims to focus on the main sectors of our business, which include in particular investments in real estate portfolio development, development, and strategic management,” said CPI Property Group CEO Zdeněk Havelka.
“In the case of professional activities that are not directly related to these business goals, we want to work closely with companies for which these activities are their main focus,” he added.
CPI Property Group is headquartered in Luxembourg, and its shares are traded on the Frankfurt Stock Exchange. Own real estate in the Czech Republic, Hungary, Poland, Slovakia, Croatia, Switzerland, France, Romania, Russia, and Britain. Vítek owns 87.8 percent of the CPI Property Group. According to Forbes magazine, he is one of the eight Czech dollar billionaires.
The company’s EBITDA operating profit increased by 15 percent year-on-year to 257 million euros last year until the end of September. The value of the group’s real estate portfolio increased by eight percent to 9.9 billion euros than the end of the previous year, which means about 259.3 billion crowns.