CPI Property secures 53% stake in Immofinanz in tender offer

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Together with shares the bidder already held or had agreed to buy, CPI will have just over 73.7 million shares representing around 53.3% of its outstanding voting rights, CPI said in a statement.

The share offer price of 23.00 euros per Immofinanz share and the convertible bond offer price of 111,470.29 euros for each nominal amount of 100,000 euros ($111,720) will be paid out no later than March 9, it added.

Immofinanz shares closed on Thursday at 22.90 euros.

($1 = 0.8951 euros)