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BRIEF-Vastned Retail launches share buy-back tender offer for up to 50 mln euros
April 11, 2017 / 5:38 PM / in 4 months

BRIEF-Vastned Retail launches share buy-back tender offer for up to 50 mln euros

1 Min Read

April 11 (Reuters) - Vastned Retail NV:

* Launches share buy-back tender offer for up to 50 million euros ($53.0 million) in cash

* Completes divestment Turkish portfolio

* Due to size of the divestment, will use up to 50 million euros of proceeds to commence share buy-back by means of a Dutch auction

* Says the tender offer period will start on April 12, 2017 at 7.00 am cest and, unless extended, will end on May 15, 2017 at 11.59 PM CEST

* Shareholders can tender their shares at a price per share specifi ed by themselves, between 33.69 euros and 35.19 euros

* Says as the share buy-back will be completed after the record-date for 2016 final dividend all share prices used herein are ex-dividend, and tenders should be priced ex-dividend as well

* Says the implied price range cum-dividend would range from 35.00 euros to 36.50 euros Source text: bit.ly/2p4hz3J Further company coverage: ($1 = 0.9432 euros) (Gdynia Newsroom)

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