Radovan Vítek has folded his real estate business, CPI Group, into the former Orco Germany. The new entity, now called GSG Group, is based in Luxembourg and traded on the Frankfurt Stock Exchange. “Our goal is to further grow and become one of the most important property investors in Europe, with portfolios in the CEE, Germany and Western Europe. For both companies, the merger is a significant step forward and strengthens their market position,” says Martin Němeček, the new CEO of GSG Group. Vítek folded CPI Group into GSG in exchange for 2.47 billion new ordinary shares. He holds a 94-percent stake in GSG Group. The share price is €0.47.
