Evergreen S.p.A. has launched a voluntary public tender and exchange offer on all of the ordinary shares of Coima Res S.p.A. SIIQ (Coima Res), a real estate investment trust in Italy.
”Evergreen offers €10.00 per Coima Res share at a premium of 38.5% over the volume-weighted average price of official prices during the twelve months prior to 27 April 2022,” said Coima Res in a press release.
Evergreen is a joint stock company controlled by Qatar Holding for 97% and by Coima Holding of Coima Gp Srl & C SAPA, a company controlled, indirectly through Coima GP, by Manfredi Catella for 3%.
The parties acting by agreement will contribute 41.4% of the authorized capital to the acceptance of the offer.
Evergreen aims to obtain acceptances equal to at least 95% of Coima Res’ capital and to achieve the delisting of Coima Res (this threshold can be partially waived, provided that the acceptances are equal to at least 66.7% of the share capital) .
Coima Res currently owns a real estate portfolio mainly concentrated in the office segment in Milan.