IFM Investors will not be required to make a mandatory takeover offer for Vienna Airport, but it intends to acquire an additional 10% of Vienna Airport’s shares from free float shareholders.
IFM Global Infrastructure Fund (IFM GIF), which recently triggered a mandatory takeover of Vienna Airport as its stake reached 40%, said the Austrian Takeover Commission decided that Airports Group Europe, IFM GIF’s indirect subsidiary, was not obliged to launch the takeover offer for all remaining shares.
IFM GIF said Airports Group Europe intends to make a partial offer for approximately 10% of the shares in Vienna Airport, “in line with Airports Group Europe’s publicly communicated objective of not seeking control of the company”.
The €33.00 per share offer price announced last month remains unchanged.
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