Brief: ADO Properties Says Offer Price For ADLER Would Amount To Eur 14.55 Per Share

Adler Real Estate AG

15/12/2019 16:36

Dec 15 (Reuters) - ADO Properties SA  ADJ.DE :
    * DGAP-ADHOC: TAKEOVER OFFER AND BUSINESS COMBINATION
AGREEMENT
ADO PROPERTIES S.A. ./. ADLER REAL ESTATE AG
    * ADO PROPERTIES-  BASED ON CLOSING PRICE OF CO'S SHARES
PRIOR TO
DAY OF ANNOUNCEMENT OF OFFER, OFFER PRICE WOULD AMOUNT TO EUR
14.55PER SHARE
    * ADO PROPERTIES-CO ACQUIRING 22.18% STAKE IN CONSUS FROM
MINORITY
SHAREHOLDERS AT AVERAGE PRICE OF EUR 9.72/ CONSUS SHARE VIA
SHARE PURCHASE AGREEMENTS
    * ADO PROPERTIES SA - INTENDS TO ENTER INTO AN OPTION
AGREEMENT
WITH CONSUS' LARGEST SHAREHOLDER AGGREGATE HOLDINGS
    * ADO PROPERTIES -  PURSUANT TO AN OPTION AGREEMENT, CO
SHALL HAVE
CALL OPTION TO ACQUIRE SHARES IN CONSUS EQUALING 50.97% OF SHARE
CAPITAL OF CONSUS
    * ADO PROPERTIES- CO RECEIVED RIGHT TO MATCH THIRD-PARTY
OFFERS ON
AND PURCHASE THOSE ASSETS ON WHICH IT HAS WORKED TOGETHER WITH
CONSUS
    * ADO PROPERTIES-TO UNDERTAKE TO CONDUCT VOLUNTARY TENDER
OFFER IN
FORM OF EXCHANGE OFFER TO BUY REMAINING CONSUS SHARES IF CALL
OPTION IT EXERCISED
    * ADO PROPERTIES SA -  CONSIDERATION FOR ONE SHARE IN CONSUS
SHALL, IN EACH CASE, BE 0.2390 NEWLY ISSUED SHARES IN ADO
PROPERTIES

Source text for Eikon:  ID:nEQ3jRCYxa 
Further company coverage:  ADJ.DE 

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