Business & Economy

Real estate group Covivio launches takeover offer for Germany’s Godewind

Feb 13 (Reuters) – French real estate group Covivio SA said on Thursday it will launch a takeover offer for all shares of German peer Godewind Immobilien AG.

The company has offered each shareholder of Godewind 6.40 euros ($6.94) per share in cash, according to its statement.

Covivio also said it has secured up to about 35% of Godewind’s fully diluted share capital and the deal will be conducted through its wholly-owned indirect subsidiary Covivio X-Tend AG.

“Following the closing of this major investment, the company will have critical mass in the German office real estate market with a total portfolio of 2.1 billion euros ($2.27 billion),” the firm said in its statement. ($1 = 0.9227 euros) (Reporting by Ann Maria Shibu in Bengaluru; editing by Uttaresh.V)

Article source: http://feeds.reuters.com/~r/reuters/UKBankingFinancial/~3/V_W2ArpN0QA/real-estate-group-covivio-launches-takeover-offer-for-germanys-godewind-idUSL4N2AD5K1

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