Italian stock marget regulator Consob has approved the takeover bid by Lehman Brothers' investment vehicle Chrysalis for the closed-end investment fund Beta Immobiliare which is managed by Fimit. The offer, which runs from 20 August until 21 September, comprises about 268,000 units, or 100% of the issued units. Chrysalis is offering 1,201.58 per quota, for a total of EUR 322 mln. The offer is conditional on the tendering of at least 51% of the fund. Lenders Capitalia and Banca Monte dei Paschi di Siena will act as joint bookrunners for the offer. Beta Immobiliare owns commercial assets, mainly offices (82%) in Central Italy.
Italian stock marget regulator Consob has approved the takeover bid by Lehman Brothers' investment vehicle Chrysalis for the closed-end investment fund Beta Immobiliare which is managed by Fimit. The offer, which runs from 20 August until 21 September, comprises about 268,000 units, or 100% of the issued units. Chrysalis is offering 1,201.58 per quota, for a total of EUR 322 mln. The offer is conditional on the tendering of at least 51% of the fund. Lenders Capitalia and Banca Monte dei Paschi di Siena will act as joint bookrunners for the offer. Beta Immobiliare owns commercial assets, mainly offices (82%) in Central Italy.
