Sixth-largest Chinese firm buying Živnobanka building

Protected landmark on Na Příkopě is being sold to CEFC China Energy Company Limited

CEFC China Energy Company Limited and CPI Property Group agreed in principle that CEFC will purchase from CPI the former Živnostenská banka building located at Na Příkopě street in the very downtown of Prague.

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 Živnostenská banka building has been chosen to best serve the purpose of the firm’s European headquarters. The transaction is subject to final agreement.

“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,” Chan Chauto, the president of CEFC, said in a press release.

CPI acquired the building in 2011 from UniCredit Bank. It has planned to redevelop of the building into prime offices, retail space as well as a museum of glass called ZIBA Glass Experience Museum, which will present exhibitions of Czech and international modern glass. Both CEFC and CPI will cooperate on the museum.

“We are proud that CEFC selected the offices at the Živnobanka 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,” said Zdeněk Havelka, the executive director of CPI Property Group.

About Zivnobanka building

The Živnostenská banka building was designed by architect Osvald Polívka for the former Land Bank (Zemská banka) and was erected in 1896.

Designed the Neo-Renaissance style, the palace went on to headquarter Živnostenská banka and its successor, UniCredit Bank. It is a Protected National Cultural Monument.

CEFC China Energy Company Limited is a leading private company in Shanghai and sixth biggest in China. The company operates primarily in finance, energy and industry. CEFC was included in 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 the equivalent of 2 billion Kč and during last four 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.

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.

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 portfolio valued at over €4.4 billion, which includes a wide range of properties located in Germany, the Czech Republic, Slovakia, Hungary, Poland and Romania.

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