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THROUGH
ZAKIONO ENTERPRISES LIMITED · CPI Property Group S.A. ( CPI ) and Aroundtown SA ( Aroundtown , together with CPI, the Consortium ) announce the terms of a cash offer pursuant to which Zakiono Enterprises Limited ( Zakiono ) shall offer to acquire the entire issued and to be issued share capital (not already held, or agreed to be acquired, by Zakiono) of Globalworth Real Estate Investments Limited ( Globalworth ) (the Offer ). · Under the terms of the Offer, which will be subject to the Conditions and certain further terms set out in Appendix 1 to this announcement and to the full terms and conditions which will be set out in the Offer Document, Globalworth Shareholders will be entitled to receive:
By Reuters Staff
2 Min Read
(Reuters) -Globalworth Real Estate’s top shareholders are planning an unsolicited bid valuing the British firm at 1.57 billion euros ($1.88 billion), CPI Property said on Wednesday, sending the shares sharply higher.
CPI and Aroundtown own 51.5% of Globalworth, which operates mainly in the office sector in Poland and Romania.
The proposed bid would offer 7 euros per share in cash, CPI said, a premium of nearly 20% to Globalworth’s last close but news of the move sent the stock up 28% to 7.50 euros on Wednesday.
Globalworth “strongly advised” shareholders not to take any action in relation to the offer as it evaluates it, the firm said in a statement.