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Globalworth Real Estate Investments Ltd - office investor in Central and Eastern Europe - Notes that shareholders Growthpoint Properties Ltd, European Bank for Reconstruction & Development and Oak Hill Advisors - which in aggregate reflect a 40% interest in Globalworth's share capital - agree with Globalworth's Independent Committee that the offer by CPI Property Group SA and Aroundtown SA significantly undervalues the company.
In mid-April, CPI and Aroundtown together offered to buy out Globalworth for EUR774 million in cash.
The consortium offered EUR7 per share for the stake in Globalworth it doesn't already own. The bid values Globalworth at EUR1.57 billion, with CPI and Aroundtown currently owning just over half of the company.
Current stock price: EUR7.34
Year-to-date change: up 2.9%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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