Icelandic real estate major Stodir has acquired just under 97% of the issued shares of Keops, the largest listed property company in Denmark. Stodir said it will initiate a compulsory acquisition procedure for the remaining shares and has asked for an Extraordinary General Meeting to approve the de-listing of Keop's shares from Copenhagen Stock Exchange. Stodir aims to list its own shares on a Nordic OMX stock exchange 'as soon as it is able to do so'. The company did not specify the country in which it would seek the listing.

Icelandic real estate major Stodir has acquired just under 97% of the issued shares of Keops, the largest listed property company in Denmark. Stodir said it will initiate a compulsory acquisition procedure for the remaining shares and has asked for an Extraordinary General Meeting to approve the de-listing of Keop's shares from Copenhagen Stock Exchange. Stodir aims to list its own shares on a Nordic OMX stock exchange 'as soon as it is able to do so'. The company did not specify the country in which it would seek the listing.

Keops shareholders were offered a choice between a cash consideration of Dkr 24 for each Keops share of Dkr 1, or 19.23 New Stodir shares of a nominal value of one Icelandic krona.

The total assets of the combined group will be DKr 32.5 bn (EUR 4.4 bn) and its portfolio will be a mixture of office, retail and residential assets spread mainly in Denmark, Iceland and Sweden. 'Together Stodir and Keops will form a strong and focused property group with critical mass and a solid platform for further growth within the industry in the northern part of Europe. Both companies have a portfolio of high quality properties and together present several attractive operational synergies and advantages of scale,' Stodir ceo Skarphedinn Berg Steinarsson said.