Deutsche Real Estate Takeover Offer
07 Mayo 2009 - 11:22AM
UK Regulatory
TIDMSGL
RNS Number : 8996R
Summit Germany Limited
07 May 2009
FOR IMMEDIATE RELEASE
7 May 2009
UNIFINTER ADMINISTRATIEKANTOOR B.V. ANNOUNCES A MANDATORY TAKEOVER OFFER FOR
DEUTSCHE REAL ESTATE AG
As a result of the acquisition by Unifinter Administratiekantoor B.V.
("Unifinter") of an additional 77,500,000 shares in Summit Germany Limited
("Summit") on 7 April 2009, Unifinter increased its holding in Summit to
approximately 58.16%. As a result of this shareholding, Unifinter indirectly
controls Summit's subsidiary, Deutsche Real Estate AG ("Deutsche").
Summit indirectly controls 78.98% of Deutsche which is listed on the Frankfurt
Stock Exchange. In accordance with German law and as a result of the change in
indirect control of Deutsche, Unifinter is required to make a mandatory takeover
offer for the entire issued share capital of Deutsche ("Deutsche Offer"), at a
price to be determined pursuant to German regulatory requirements.
Unifinter is required under German Law to submit an offer document to the German
regulator Bundesanstalt für Finanzdienstleistungsaufsicht for approval and
subsequent publication.
On the basis of initial discussions with Unifinter, the independent board of
Summit considers that it may be in the best interests of Summit not to accept
the Deutsche Offer for its indirect 78.98% shareholding in Deutsche.
Furthermore, Unifinter intends to offer Summit the opportunity to purchase any
shareholding in Deutsche acquired by Unifinter as a result of acceptances under
the Deutsche Offer, on terms to be agreed and which, if Summit is listed on AIM
at the relevant time, would be subject to the AIM Rules regarding related party
transactions.
In connection with its offer for Summit, it was announced yesterday by Unifinter
that it had received valid acceptances in respect of 30.21% of the issued share
capital of Summit, in addition to its shareholding of 58.16%. The combined
amount of valid acceptances and Unifinter's existing holding is 88.38%.
For further enquiries please contact:
Unifinter Telephone:+972 54 7709170
Zohar Levy
Summit Telephone:+44 (0)1481 710 315
Quentin Spicer
Deutsche Telephone:+49 (40) 688 75 740
Veit Gunnar Schüttrumpf
Fairfax I.S. PLC Telephone: +44
(0)20 7598 5368
Nominated Adviser and Broker to Summit
Jeremy Porter / Laura Littley
A copy of this announcement is available on Summit's website at:
http://www.summitgermany.co.uk/newsFilter
Notes to editors
Deutsche is a company listed on the Frankfurt Stock Exchange. Deutsche's
portfolio of commercial properties in Germany amounts to approximately
Euro300 million and located mainly in prime locations in major cities.
Summit, incorporated in Guernsey and admitted to trading on AIM in May 2006, is
a real estate investment company specialising in commercial properties in
Germany.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSSAFMWSUSEFI
Summit Germany (LSE:SGL)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Summit Germany (LSE:SGL)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
Real-Time news about Summit Ger (London Stock Exchange): 0 recent articles
Más de Summit Germany Artículos de Noticias