Deutsche Euroshop AG : Oaktree and Alexander Otto to bid for DES – not a done deal yet, in our view
>Intended bid price of € 21.50 per share in cash plus targeted dividend - Yesterday morning (23 May), Deutsche Euroshop (DES) announced that it had entered into an investor agreement with Hercules BidCo GmbH, Munich, pursuant to which the bidder will make a voluntary public takeover offer for all outstanding shares of the company for € 21.50 per share in cash. In addition, DES shareholders will receive the amount of the dividend payable for the financial year 2021, wh...Deutsche Euroshop is a property, real estate and development group based in Germany. Through its subsidiaries, Co. focuses on acquiring, managing, using and selling investments of all kinds, and in particular investments in retail properties. Management of the properties is outsourced to Co.'s external partner, ECE Projektmanagement GmbH & Co. KG. Co. maintains equity interests in 19 European shopping centers in Germany, Austria, Hungary and Poland. The market value of these shopping centers, which are predominantly in city center locations, amounts to approximately Euro4.3 billion.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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