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BRIEF-Colonial launches takeover bid for Axiare at 18.50 euros/share
November 13, 2017 / 9:09 AM / a month ago

BRIEF-Colonial launches takeover bid for Axiare at 18.50 euros/share

Nov 13 (Reuters) - Inmobiliaria Colonial SA:

* SAYS BOARD AGREED TO DRAW UP TAKEOVER BID FOR ALL SHARES OF AXIARE PATRIMONIO SOCIMI‍​

* OFFER PRICE OF 18.50 EUROS PER SHARE

* SAYS ENTIRE CONSIDERATION SHALL BE MADE EFFECTIVE IN CASH

* SAYS HAS THE NECESSARY FUNDS TO COVER THE CONSIDERATION ESTABLISHED

* SAYS HAS 28.79 PERCENT CAPITAL OF AXIARE BEFORE BID

* SAYS BID SUBJECT TO COLONIAL BECOMING OWNER OF 50 PERCENT PLUS 1 OF AXIARE SHARES

* SAYS INTENDS TO IMPLEMENT INTEGRATION OF AXIARE, WHICH WOULD DETERMINE EXCLUSION OF ITS SHARES FROM TRADING Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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