
Scor: increases stake in MRM
(CercleFinance.com) - Scor announces that it has reached an agreement to acquire Altarea's 15.
9% stake in MRM, bringing the reinsurer's total holding to around 72.5% of the property company's capital and voting rights.
Subject to AMF approval, a simplified tender offer will be filed by Scor, followed, if the conditions are met, by a squeeze-out, as a result of which MRM will be delisted by the end of 2024.
Taking into account the possible prospect of a squeeze-out, the price envisaged for the offer would be equal to the NAV at 30 June 2024, i.e. an estimated offer price of E35.4 per MRM share, 'externalising a significant premium on the share price.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
9% stake in MRM, bringing the reinsurer's total holding to around 72.5% of the property company's capital and voting rights.
Subject to AMF approval, a simplified tender offer will be filed by Scor, followed, if the conditions are met, by a squeeze-out, as a result of which MRM will be delisted by the end of 2024.
Taking into account the possible prospect of a squeeze-out, the price envisaged for the offer would be equal to the NAV at 30 June 2024, i.e. an estimated offer price of E35.4 per MRM share, 'externalising a significant premium on the share price.
Copyright (c) 2024 CercleFinance.com. All rights reserved.