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More minority shareholders object to Atrium buyout

Alex Hayes 04 September 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

CEE REGION ICAMAP Investments has written a letter to Gazit Globe stating that it objects to the price offered for the remaining shares of Atrium European Real Estate and demands that the company be revalued before it will agree to sell its minority stake of 1.38 pct.

ICAMAP is not the only minority shareholder to object to the takeover of Atrium by its majority shareholder. Similarly Letko Brosseau & Associates has also claimed that Gazit’s offer significantly undervalues the company. ICAMAP estimates a fair value range between EUR 4.75 and EUR 5.25 per share which compares to the price of EUR 3.75 per share that has been offered.

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