WOOD Flash – S Immo: CPI to increase offer price to EUR 23.5/share, management to support the bid; EGM on 1 June
S Immo has announced that its management has entered an agreement with CPI, regarding the takeover offer. The two parties have agreed that S Immo’s management board will support the abolition of the 15% voting rights cap, in order to enable CPI to launch the mandatory takeover offer. In turn, CPI will, reportedly, increase the offer price from EUR 22.0/share (cum dividend) to EUR 23.5/share (cum dividend). In the view of S Immo’s management board, this level grants S Immo’s shareholders a fair exit opportunity, and management will, in turn, recommend the shareholders vote in favour of the offer.S Immo AG is an Austria-based company engaged in the real estate sector. The Company specializes in the acquisition, letting and sale of properties. Furthermore, It offers real estate project developments, which includes Einsteinova office, Quartier Belvedere Central, and The Mark office project, among others, renovation of existing properties, asset and portfolio management and a range of services, such as facility management and brokerage. The Company's real estate portfolio comprises residential, office, retail and hotel properties. It operates four geographical segments: Austria, Germany, Central Europe (CEE) and Southeastern Europe (SEE). In addition, the Company is a parent of CEE Immobilien GmbH, Hansa Immobilien EOOD, Rega Property Invest sro, Ikaruspark GmbH, SC Societate Dezvoltare Comercial Sudului (SDCS) SRL, Maior Domus Hausverwaltung GmbH, and Eurocenter doo, among others.
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