Xior Student Housing heads for best day in 19 months after takeover bid for Quares Student Housing

Xior Student Housing NV

12/10/2021 09:01

** Shares in Belgium's Xior Student Housing  XIOR.BR  jumped
as much as 7% after the company announced its intent to launch a
voluntary public tender offer for a privately owned Belgian peer
Quares Student Housing 
    ** The offer price is set at 19,984 euros ($23,105.50) per
share and 10,000 euros per convertible bond for a total
investment value of about 155.8 million euros  ($180.12
million) urn:newsml:reuters.com:*:nL8N2R8133
    ** At the same time the co announced it entered into binding
agreement with the four major shareholders of Quares Student
Housing for acquisition of 32.36% stake 
    ** With the acquisition, Xior Student Housing forecasts an
EPRA earnings for 2022 increasing from 10% to 15%
    ** The combination of both companies will create the largest
student housing investor of Belgium, according to KBC
Securities, which remains at "buy"
    ** The stock is heading for it's best day since March 2020
and is up about 14% since the beginning of the year


($1 = 0.8649 euros)


($1 = 0.8650 euros)

 (Reporting by Kate Entringer)
 ((kate.entringer@thomsonreuters.com))