Colonial launches takeover bid for the 100% of Axiare

Colonial launches takeover bid for the 100% of Axiare

The information was confirmed by the company to the National Securities Market Commission. Axiare's shares soared by 15%, reaching the €18.7, while Colonial's shares have seen only slight rises.

According to El Confidencial, since the entry of Colonial into Axiare, it was foreseen the possibility of a takeover bid, mainly since Colonial became the first shareholder of Axiare, with 15% of the capital. This percentage has gone this morning to 28.79% after Colonial acquired, "immediately before" this announcement, 10,511,523 shares, representing 13.3% of the share capital of Axiare, at €18.25 and €18.5.

The purchase of these 13.3% will be financed through a capital increase, and the takeover bid itself will be financed through a bond issue. According to the same source, and after this transaction is closed, Colonial should sell the entire Axiare logistics portfolio.

After this fusion, the assets will total around 9.794 million euros, according to Observatorio Inmobiliario. 






Photo: EjePrime

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!