German CPI and Aroundtown to buy Globalworth in $ 1.88 billion real estate transaction


ADds offer details, background

April 14 (Reuters)German real estate group IPC O5G.DE and Aroundtown SA AT1.DE offered on Wednesday to buy Globalworth Real Estate Investments, listed in London GWI.L in a deal valued at around 1.57 billion euros ($ 1.88 billion).

Shareholders of Globalworth, which operates primarily in the office sector in Poland and Romania, will be entitled to receive € 7 per share in cash, CPI said.

The German consortium said it currently owns around 51.5% of Globalworth, a company incorporated in Guernsey. The offer represents a premium of nearly 20% over Globalworth’s last close.

Office real estate has been hit hard during the COVID-19 pandemic, with restrictions forcing people to work from home, while slow vaccine deployments in Europe have cast doubts on the speed of plans to reopen and reopen. back to work.

CPI’s portfolio includes office buildings, retail businesses, residences as well as hotels and resorts. Aroundtown invests primarily in commercial and residential real estate.

Globalworth, whose stock has lost around 17% of its market value so far this year after falling 23% in 2020, did not immediately respond to a request for comment.

(1 USD = 0.8358 euros)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta)

(([email protected]; Twitter:; +919742735150))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


About Eleanor Blackburn

Check Also

Kuwaiti investors interested in buying failed factory in Bosnia – ARAB TIMES

WhatsApp Facebook Twitter E-mail Messenger This message has been read 3298 times! Workers’ issues not …

Leave a Reply

Your email address will not be published.