Media: South African group Vukile studies bid for Lar Espana- Expansion, El Confidencial

HELIOS RE SOCIMI

09/09/2019 07:11

Sept 9 (Reuters) - Spanish newspaper Expansion, citing
financial sources and Spanish online newspaper El Confidencial
citing sources close to the process, said:
    * The South African group Vukile Property  VKEJ.J  is
studying a
takeover bid over Spanish real estate company Lar Espana
 LRES.MC  for over 700 million euros, El Confidencial says
    * Bid will be launched by Vukile's Spanish unit Castellana
Properties  YCPS.MC  and Swiss bank UBS has been contracted as
advisor for the deal, both newspapers say
    * Lar Espana contracted Lazard as advisors for the potential
deal,
Expansion writes, citing "other sources"
    * According to Expansion, main shareholders of Lar Espana
see the
company as undervalued (current market value at over 600 million
euros) and they would expect at least a 30% premium over the
trading price if the bid takes place
    * A spokesman for Lar Espana contacted by Expansion refused
to
make any comment   

-- Note: Reuters has not verified this story and does not vouch
for its accuracy

 (Gdynia Newsroom)
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