S Immo rises after Immofinanz takes its stake beyond 50%

S IMMO AG

20/12/2022 08:22

** Shares in S Immo  SIAG.VI  are up 4.8% after Immofinanz
 IMFI.VI  increased shareholding in the  Austrian real estate
group to more than 50%
    ** Immofinanz said it was buying 17.3 mln shares in S Immo
from CPI Property Group  O5G.DE  for 337.5 million euros ($358.0
million) or 19.5 euros per S Immo share 
    ** The purchase price represents a premium of 57% to S
Immo's closing price on Monday
    ** "The purchase price of EUR 19.50 is far above the current
market price (EUR 12.40 closing price as of 19/12/22)," Erste
Bank says
    ** S Immo's shares rose 9% on Nov. 21 after Immofinanz said
it would start talks with CPI Property Group to take over an
absolute majority in S Immo
    ** Immofinanz shares are down 4%
($1 = 0.9429 euros)
 (Reporting by Bartosz Dabrowski in Gdansk)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))