Brief: Nova Re Accepts CPI Property Group Bid

Next Re SIIQ SpA

08/10/2020 06:53

Oct 8 (Reuters) - Nova Re SIIQ SpA  NR.MI :
    * SAID ON WEDNESDAY IT HAD ACCEPTED OFFER MADE BY CPI
PROPERTY
GROUP FOLLOWING COMPETITIVE BIDDING PROCEDURE
    * CPI PROPERTY GROUP TO SUBSCRIBE CASH CALL OF ABOUT EUR 26
MLN AT
EUR 2.36 /SHR
    * PROCEEDS TO BE USED TO IMPLEMENT 2020-2024 INDUSTRIAL PLAN
    * EXPECTS CASH CALL TO BE COMPLETED BY YEAR-END
    * CPI PROPERTY GROUP WILL OWN STAKE ABOVE 50% AFTER CASH
CALL AND
WILL HAVE THEREFORE TO LAUNCH TAKEOVER BID

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA9Nk3kN
    
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