Intervest O&W - Results of the Initial Acceptance for the Take-over bid
Intervest O&W announced the results of takeover Offer.During the Initial Acceptance Period, 27,357,807 shares, or 88.75% of the shares of Intervest, were tendered. Including the shares that TPG already owned prior to the Offer, TPG directly or indirectly owns a total of 89.76% of the shares in Intervest.The voluntarily offer reopens on 28 February 2024 until 28 March 2024. We reiterate our positive stance on the offer by TPG and consider it as fair.Intervest Offices & Warehouses is a Belgian property investment fund. Co. specializes in investments in office buildings and semi-industrial properties situated on locations outside municipal centres. Co.'s business properties are located on the Antwerp-Brussels axis. Its activities can be divided into two business segments: Offices segment which includes the properties that are let to companies for professional purposes as office space; and Semi-industrial buildings segment which includes those premises with a logistical function, storage facilities and high-tech buildings. At Dec 31 2010, Co.'s portfolio consists of 69% in offices buildings and 31% in semi-industrial buildings.
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