Covivio: the simplified public exchange offer for Covivio Hotels opens on Monday

(CercleFinance.com) - The AMF has declared the simplified public exchange offer (OPES) for Covivio Hotels shares, filed by BNP Paribas on behalf of the real estate company Covivio, to be compliant, and that this OPES will be open from June 3 to 21 inclusive.


The offeror irrevocably undertakes to acquire, by delivery of 31 new Covivio shares to be issued for every 100 Covivio Hotels shares (ex dividend) tendered, all 70,849,242 Covivio Hotels shares not held by it, i.e. 47.83% of the share capital.

Covivio does not intend to implement a squeeze-out of the Covivio Hotels shares following the offer. Euronext Paris is due to publish the terms of the offer and its detailed timetable.

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