EBRD has accepted to sell its shares following the takeover bid carried out by Czech CPI Property Group and German company Aroundtown, which together owned 51.5% of Globalworth’s shares through the Consortium company, Zakiono Enterprises.
After EBRD’s exit, CPI Property Group and Aroundtown will increase their stake in Globalworth to over 59% as several other smaller investors have also decided to sell.
South African Growthpoint Properties, which held 29.5% of Globalworth’s shares, and Oak Hill, one of Globalworth’s earliest shareholders, which had a 5.3% stake, haven’t announced if they changed their mind about not selling their stakes. They had initially said they would not accept the offer of selling their shares.
Globalworth, which is listed on the London Stock Exchange’s AIM market, managed a portfolio of commercial properties worth EUR 3 bln at the end of 2020. Its portfolio consists mainly of office buildings located in major cities in Romania and Poland.
Globalworth’s NAV per share at the end of 2020 was EUR 8.68, down from EUR 9.3 at the end of 2019, but still 24% higher than the price offered by CPI and Aroundtown in their takeover offer.