ISS backs Immofinanz's demands for planned S Immo takeover

S IMMO AG

10/06/2021 12:25

BERLIN, June 10 (Reuters) - Proxy advisory firm ISS said on
Thursday it supports Austrian property group Immofinanz's
 IMFI.VI  demand to change the voting rights policy at takeover
target S Immo  SIAG.VI .
    Immofinanz, which already holds 26.5% in S Immo, last month
launched a 1.14 billion euro ($1.39 billion) bid subject to the
condition that S Immo cancels its current policy limiting its
shareholders' voting rights to 15%, even if their stakes are
higher.  urn:newsml:reuters.com:*:nL5N2N61L2
    ISS strongly supports a "one share one right" policy, it
said in a report seen by Reuters.
    S Immo has advised its shareholders to reject the takeover
offer.  urn:newsml:reuters.com:*:nL2N2N61GD

($1 = 0.8212 euros)

 (Reporting by Alexandra Schwarz-Goerlich
Writing by Kirsti Knolle, editing by Emma Thomasson)
 ((kirsti.knolle@thomsonreuters.com;))