Lar Espana shines after takeover bid with 16% premium

HELIOS RE SOCIMI

12/07/2024 08:43

** Shares of Spanish real estate company Lar Espana
 LRES.MC  jump around 16% after Helios consortium launched on
Thursday a takeover bid for Lar Espana at 8.10 euros per share
    ** The offer implies a premium of 16% over last close of its
shares
    ** Helios is a consortium formed by real estate fund Hines
European Real Estate Partners III and Grupo Lar
    ** The consortium offer values Lar Espana at 678 million
euros  ($736.8 million) 
    ** Shares of Lar Espana hit 8.13 euros, their highest in
more than 4-1/2 years, and are on track for their best day ever
    ** Including session's rise, stock has gained 32.2% YTD


($1 = 0.9202 euros)

 (Reporting by Tiago Brandao)
 ((Tiago.Brandao@thomsonreuters.com;))