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CA Immo fails in Immofinanz takeover bid

Rafał Ostrowski 17 April 2015

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

CA Immo fails in Immofinanz takeover bid
Immofinanz CEO Eduard Zehetner thanked the shareholders for not responding to the offer

EUROPE Austrian developer CA Immo together with its Russian partner O1 Group have increased their stake in Immofinanz by 1.6 pp to 6.1 pct.

The shares purchased represent just over a tenth of what the parties intended to acquire (13.5 pct) through a voluntary partial takeover offer directed to Immofinanz shareholders priced at EUR 2.80 per share. Immofinanz CEO Eduard Zehetner thanked the latter for not responding to the bid. “As a result of the great foresight shown by Immofinanz shareholders, the bidders have failed to meet their goal,” he said during an extraordinary general meeting held on Friday. Immofinanz has also reduced the threshold for a mandatory takeover to a 15 pct shareholding, making any eventual takeover bids more challenging for the potential buyer.

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