By Joe Hoppe
CPI Property Group SA said Thursday that the 1.57 billion-euro ($1.92 billion) offer it made together with Aroundtown SA for Globalworth Real Estate Investments Ltd. has been extended.
The real estate company said the offer it first set out on April 14 to acquire the office investor will remain open for acceptance until June 16.
As of June 2, the original date for Globalworth shareholders to accept the offer, the companies had received 670,887 valid shares, a total of 0.3% of the issued share capital of Globalworth.
Globalworth said on April 26 that the EUR7.0-a-share offer is a significant discount to its EPRA NAV of EUR8.68 as of Dec. 31, and therefore advised shareholders to take no action over the possible offer
CPI Property said the Polish competition and consumer protection regulator issued an unconditional decision of non-objection on May 18, approving the offer under Phase 1 merger proceedings. The offer is still subject to satisfying the Romanian Antitrust Condition.
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