Breakingviews - Capital Calls: German duo attempt eastern Eu

Breakingviews - Capital Calls: German duo attempt eastern Europe office raid


Breakingviews
By Reuters Staff
2 Min Read
Window cleaners wash the exterior of an office building in Gdansk, Poland October 24, 2019. Picture taken October 24, 2019.
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
LONDON (Reuters Breakingviews) - WORTH MORE. German property funds CPI Property and Aroundtown are attempting a cheeky raid on eastern European offices. The duo, which collectively own 51.5% of UK-listed Globalworth Real Estate Investments, offered on Wednesday to buy the remainder of the Poland- and Romania-focused group for just under 1.6 billion euros. At first glance, their 7 euro per share bid, a 19% premium to Globalworth’s undisturbed price, looks reasonable. Initial appearances, however, can be deceptive.

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