(CercleFinance.com) – BNP Paribas, acting on behalf of Covivio, filed Friday evening with the AMF a draft simplified public exchange offer (OPES) targeting Covivio Hotels shares, a project which had been announced on February 22.
The initiator irrevocably undertakes to acquire, by delivery of 31 new Covivio shares to be issued for 100 Covivio Hotels shares (ex-dividend) presented, all of the 70,849,242 shares not held by it, i.e. 47.83% of the capital of this property.
The offeror does not intend to implement a squeeze-out of the shares following the offer. This OPES project follows the acquisition by Covivio of the 8.3% of the capital of Covivio Hotels held by Generali, in exchange for new Covivio shares.