Bricks announces squeeze out of Robyg shares

Bricks Acquisitions, a Goldman Sachs subsidiary and new owner of WSE-listed real estate developer Robyg, launched squeeze out on some 5.44 million company’s shares representing 1.84 percent at PLN 4 apiece. The new owners tendered over 98 percent stake at PLN 4 per share, the company said back in February. Initially, Bricks offered PLN 3.55 per share, but it was blocked by a group of open pension and investment funds which combined controlled a 51.6 percent stake in Robyg. They said that the initial offer did not reflect the fair value of the company.