Brief: Covivio Says Will Launch Mandatory Public Exchange Offer For Remaining Share Capital Of Covivio Hotels

Covivio SA

19/04/2024 13:43

April 19 (Reuters) - Covivio SA  CVO.PA :
    * IN COMING WEEKS, COVIVIO WILL LAUNCH A MANDATORY PUBLIC
EXCHANGE
OFFER IN FORM OF SIMPLIFIED  OFFER, FOR REMAINING SHARE CAPITAL
OF COVIVIO HOTELS
    * COVIVIO NOW HOLDS 52.2% OF THE CAPITAL AND VOTING RIGHTS 
OF
COVIVIO HOTELS
    * DOES NOT INTEND TO IMPLEMENT A SQUEEZE-OUT AT  THE END OF
THE
OFFER, NOR TO CARRY OUT A MERGER WITHIN 12 MONTHS OF THE CLOSING
OF THE OFFER
    * GROWTH IN OVERNIGHT STAYS IS EXPECTED TO REACH +5%/YEAR BY
2030,
WHILE FUTURE SUPPLY  REPRESENTS ONLY 2% OF EXISTING HOTEL STOCK
ON AVERAGE IN EUROPE

Source text for Eikon:  ID:nNDL8TDGt9 
Further company coverage:  CVO.PA 

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