Brief: Covivio To Acquire 8.3% Stake In Covivio Hotels

Covivio SA

22/02/2024 06:49

Feb 22 (Reuters) - Covivio SA  CVO.PA :
    * SIGNED AN AGREEMENT TO ACQUIRE 8.3% STAKE IN COVIVIO
HOTELS HELD
BY GENERALI, IN EXCHANGE FOR NEW COVIVIO SHARES
    * TRANSACTION REPRESENTS EQUIVALENT OF EUR 500 MILLION OF
HOTELS
ASSETS ACQUISITION AND A CAPITAL INCREASE OF NEARLY EUR 300
MILLION
    * FOLLOWING THIS CONTRIBUTION TRANSACTION, WHICH IS EXPECTED
TO BE
COMPLETED BY THE END OF APRIL, COVIVIO WILL HOLD 52.2% OF THE
SHARE CAPITAL OF ITS SUBSIDIARY COVIVIO HOTELS
    * FOLLOWING THIS CONTRIBUTION TRANSACTION, COVIVIO WILL
LAUNCH A
MANDATORY PUBLIC EXCHANGE OFFER FOR THE REMAINING SHARE OF THE
CAPITAL OF COVIVIO HOTELS

Source text for Eikon:  ID:nNDL2Zk0Nt 
Further company coverage:  CVO.PA 

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