Real estate industry – Immofinanz wants to gain control over S-Immo

S-Immo shares started the new trading week on Monday with significant price gains. In the morning the shares of the Viennese real estate company were quoted 5.3 percent stronger at 19.00 euros. The evening before it became known that the Viennese real estate group Immofinanz wants to take over S-Immo, in which it currently holds 26.49 percent.

As Immofinanz announced on Sunday evening, the company’s management board and supervisory board decided to make a voluntary public takeover offer to acquire control in accordance with the Takeover Act for the acquisition of all outstanding no-par value bearer shares in S-Immo AG that are not owned by the Bidder .

The offer price is to be EUR 18.04 per S-Immo share on a “cum-dividend basis”. This means that the offer price will be reduced by the amount of any dividend declared between this announcement and the settlement of an offer, provided that settlement takes place after the relevant dividend cut-off date.

The price corresponds to the closing price of the S-Immo share in trading on the Vienna Stock Exchange last Friday, March 12, according to Immofinanz. In relation to the volume-weighted average stock market price of the last six months of 15.86 euros per share, the premium is around 13.75 percent.

The shares of Immofinanz showed up on Monday morning by 1.8 percent at 17.21 euros. (apa)