Petrus Advisers

Euro 23.0 conwert in squeeze out process

Petrus Advisers represent 2.3% of the shares in conwert Immobilien Invest SE ('conwert'), or 33% of the free float. After scrutinising the Ebner Stolz approach and valuation opinion, Petrus deem Vonovia's squeezeout offer of €17.08 per share (6.2% below current market price) unrealistic. Petrus have refinanced their shareholding while keeping the full improvement rights. Petrus will release the findings of their valuation analysis based on eight years of understanding conwert in detail following the EGM.

August 28, 2017

Petrus Advisers finalises the sale of its S-Immo stake

Petrus Advisers ("Petrus") have finalised the sale of their 3.9 percent stake in S Immo AG ("SPI"). With a capital gain for Petrus of 73% in less than 18 months Petrus Advisers views the market dislocation of S-Immo shares of early 2016 as remedied.

August 22, 2017

Petrus Advisers recommend that all existing shareholders not tender their shares into the offer by Vonovia SE

Petrus Advisers maintain a substantial position in conwert Immobilien Invest SE (conwert) and recommend that all existing shareholders not tender their shares into the offer by Vonovia SE for up to 100% in conwert against cash or Vonovia shares. The recent and continued progress of conwert combined with the expected synergies from becoming part of the Vonovia group will substantially increase the cash flow generation of conwert.

March 20, 2017

Petrus Advisers declines conwert offer to minority shareholders of KWG and offers representations to other shareholders

Petrus Advisers, as the second largest investor in KWG Kommunale Wohnen AG, rejects the offer by conwert Immobilien SE for up to 13.47% in KWG at Euro 10.80 per share. Both the price offered as well as the intentional disregard of shareholder rights by forcing small shareholders to remain invested in the company are not acceptable to Petrus Advisers.

April 15, 2016

Petrus comments on the upcoming conwert EGM

Petrus Advisers today received an information request from the Austrian Takeover Commission regarding business relationships to Adler Real Estate AG ("Adler”) and certain of Adler’s shareholders as well as potential concerted action regarding conwert Immobilien Invest SE ("conwert”).

March 8, 2016

Petrus (UK) LLP announce that Petrus Advisers holds 4.1 per cent of the voting rights of KWG Kommunale Wohnen AG.

Petrus (UK) LLP announce that Petrus Advisers holds 4.1 per cent of the voting rights of KWG Kommunale Wohnen AG.

December 16, 2015

Till Hufnagel joins Petrus Advisers as Partner and Head of Activism

Petrus Advisers announces that Till Hufnagel has joined as Partner and Head of Activism. Till spent 14 years with Goldman Sachs where he was a Managing Director in GS´ private equity business. His areas of specialisation included the German speaking region, Industrials and Natural Resources.

September 21, 2015

Petrus Advisers Withdraws Demand for EGM

Petrus Advisers is a longterm core shareholder of conwert and is interested in value creation for all conwert shareholders through analytical and fact driven work. The facts and numbers for BGP were highly unattractive and conwert's share price collapsed accordingly. We appreciate that conwert has ended the acquisition plan.

August 18, 2015

Petrus Follows ISS Recommendation

Petrus Advisers are pleased with the decision by the Institutional Shareholder Service (ISS) to recommend Erich Kandler for the election to the administrative board of conwert Immobilien SE (conwert). We believe Erich Kandler will significantly contribute to conwert’s progress thanks to his exceptional qualifications, experience and reputation.

May 26, 2015

Petrus Advisers proposes important agenda items for Annual General Meeting of convert Immobilien Invest SE

As one of the largest shareholders in conwert Immobilien Invest SE ("conwert") Petrus Advisers has requested a set of agenda items for the company´s upcoming Annual General Meeting on 5 June 2015 promoting the independence, transparency and corporate governance of the company. The aim is to reestablish the Administrative Board as a professional governing body committed to all shareholders’ interests.

May 20, 2015

Conwert: Haselsteiner Wants Blocking Minority

The Austrian industrialist, who is CEO of Strabag Group, wants to reach at least a 25% stake at the real estate company. Petrus Advisers is said to exit.

March 23, 2012

Major Offer for Vienna International Airport by Petrus Advisers

The London-based real estate company made a € 450m offer to VIA. However, the demanded property is not for sale.

February 8, 2012
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