CA Immo: „Bid of UniCredit too low“

Business › n.a. ♦ Published: January 30, 2011; 00:01 ♦ (Vindobona)

UniCredit intends to increase its stake on the Austrian CA Immo up to 29%. The board regards the bid of € 12.35 per share as being “too low”.

CA Immo: „Bid of UniCredit too low“ / Picture: © Vindobona.org

Currently, the Italian UniCredit holds a stake of 11.9% on the Austrian real estate company CA Immo. The stake is to increase up to 29%. UniCredit´s bid amounts to € 12.35 per share. However, the supervisory board and the executive board of CA Immo state that the bid is below the NAV by 31.2%. The NAV by the end of September 2010 was 17.96 per share. What is more, UniCredit´s bid is…

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