Shares in Deutsche Euroshop surge on takeover offer (updated)

Deutsche Euroshop AG

23/05/2022 08:46

(Adds share price, details)
    BERLIN, May 23 (Reuters) - Shares in Deutsche Euroshop
 DEQGn.DE  jumped 41.4% in early Frankfurt trade on Monday after
a consortium of bidders offered 1.4 billion euros ($1.48
billion) to acquire the German shopping centre investor.
    Hercules BidCo's offer provides for 21.50 euros per share,
plus a planned 2021 dividend of 1 euro per share, amounting to a
44% premium on Friday's closing share price. 
    Hercules Bidco is controlled by financial investor Oaktree
Capital and Cura Vermoegensverwaltung, which is owned by
Alexander Otto. The entrepreneur already owns around one-fifth
of the Hamburg-based Deutsche Euroshop.

    ($1 = 0.9436 euros)

 (Reporting by Nadine Schimroszik, writing by Rachel More;
Editing by Paul Carrel and Edmund Blair)
 ((rachel.more@thomsonreuters.com;))