On 15 December, Consus announced that Ado Properties had acquired a c 22% stake in the company for €294m in cash. The purchase price of €9.72 per share represents a c 58% premium to the closing price of €6.15 on 13 December. As a result, Ado’s current holding is c 25%, with a call option for a further 51% stake. On exercise of the option, Ado intends to make an exchange offer for the remaining shares. The announcement follows the agreed merger of Ado and Adler Real E
07 Jan 2020
Consus Real Estate - Embracing the ‘build-to-hold’ business model
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Consus Real Estate - Embracing the ‘build-to-hold’ business model
- Published:
07 Jan 2020 -
Author:
Milosz Papst -
Pages:
2
On 15 December, Consus announced that Ado Properties had acquired a c 22% stake in the company for €294m in cash. The purchase price of €9.72 per share represents a c 58% premium to the closing price of €6.15 on 13 December. As a result, Ado’s current holding is c 25%, with a call option for a further 51% stake. On exercise of the option, Ado intends to make an exchange offer for the remaining shares. The announcement follows the agreed merger of Ado and Adler Real E