Globalworth to acquire Griffin RE

Investment fund Globalworth Real Estate Investments signed an agreement with WSE-listed Griffin Premium Real Estate main shareholders to acquire up to 47.9 percent stake in the company.

Globalworth wants to keep the company on the Warsaw Stock Exchange, so overall it plans to acquire up to 67.9 percent shares, including those bought from the main shareholders and in freefloat. The fund announced a tender to acquire necessary shares at PLN 5.5 apiece.

The bidder will go through with the tender provided at least 50.01 percent stake is acquired.

Subscriptions will last between October 24 and November 28. The transaction is expected on December 1.

At the end of the trading day on Wednesday, Griffin Premium RE shares stood at PLN 5.2.

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