Shares of Deutsche EuroShop, a mall-real estate company, jumped 40% this morning as a consortium of private equity firms managed by Oaktree Capital Management and CURA Vermoegensverwaltung made a voluntary takeover bid of € 22.50 per share.
“The offer represents a strategic investment in Deutsche EuroShop, to ensure that the company is able to meet the challenges and opportunities in the current retail environment,” the investors said.
The offer amounts to 21.50 euros per share for Deutsche Euroshop in cash, to which must be added an additional payment of 1 euro per share in the form of a dividend for 2021, the bidders said.
The shareholders of the company will benefit from the premium of 44% in relation to the closing of the share at 15.63 euros per share, on May 20.
The minimum acceptance limit of the offer is 50% of the share capital of Deutsche Euroshp plus one share.
Source: Capital
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