Additional acceptance period for ADO Properties´ offer starts today
Berlin, 9 June 2020:
The additional acceptance period for ADO Properties S.A.´ offer to the WESTGRUND shareholders starts today. Up until midnight (CET) on 22 June 2020, remaining WESTGRUND shareholders may still tender their shares into the offer. They will receive a cash compensation of EUR 11.74 per share, as per the original offer. The price is based on an independent valuation assessment of WESTGRUND and is above the EPRA NAV per share of WESTGRUND of EUR 11.59 as of 31 December 2019.
The Supervisory and Management Boards of WESTGRUND had, already in May, published a joint statement on the takeover and delisting offer of ADO Properties in which they came to the conclusion that the offer is fair from a financial point of view.
The number of shares already tendered in the course of the original acceptance period has been published by ADO Properties under: https://www.ado.properties/websites/1045_ma/English/2000/tender-offer.html
The joint statement of the Supervisory and Management Boards of WESTGRUND (German only) can be found under: https://www.westgrund.de/ado_properties/.
Telefon: +49 30 39 80 18 160
Fax: +49 30 39 80 18 199