S Immo's investors refuse key condition for Immofinanz's bid

S IMMO AG

24/06/2021 11:26

June 24 (Reuters) - Vienna-based real estate group S Immo
 SIAG.VI  said on Thursday its shareholders did not approve a
key condition for rival Immofinanz's  IMFI.VI  1.14 billion euro
($1.39 billion) takeover offer.
    S Immo said shareholders at its annual general meeting,
which reached a turnout of almost 55%, did not approve of the
elimination of maximum voting rights that had been Immofinanz's
condition in the bid.
    Immofinanz, which already holds 26.5% in S Immo, launched a
takeover last month subject to the condition that S Immo cancels
its current policy limiting its shareholders' voting rights to
15%, even if their stakes are higher.

 (Reporting by Zuzanna Szymanska in Gdansk
Editing by Caroline Copley)
 ((zuzanna.szymanska@thomsonreuters.com; + 48 58 769 65 61;))