Dutch-based Nieuwe Steen Investments (NSI) may form a strategic cooperation with the Tel Aviv-listed Habas HZ Investments aimed at expansion of its real estate portfolio. NSI said in a press release that the investment company is willing to acquire a 20% of NSI' outstanding shares at a price of EUR 21.9, which is 7.6% below the share closing price on Thursday.
Dutch-based Nieuwe Steen Investments (NSI) may form a strategic cooperation with the Tel Aviv-listed Habas HZ Investments aimed at expansion of its real estate portfolio. NSI said in a press release that the investment company is willing to acquire a 20% of NSI' outstanding shares at a price of EUR 21.9, which is 7.6% below the share closing price on Thursday.
NSI's board of directors decided to start with further negotiations. Ceo Anka Reijnen told researchers at merchant bank Kempen & Co that 20% is the minimum level for offers under Dutch law, and might be increased to 100%. Members of the management and the supervisory board own 5.4% of the company.
Habas HZ Investment is controlled by Habas, a property investment company mainly active in Israel, Europe and North America.
