The way has been cleared for the merger of Rodamco Europe and Unibail after 80% of Rodamco Europe investors tendered their shares, the two property groups said in a joint statement on Thursday. The merger was conditional on Unibail tendering at least 60% of Rodamco's shares. Unibail's exchange offer ran until 20 June, 2007.The merger will create a combine with a EUR 21 bn market capitalisation, making it the largest listed real estate company in Europe.
The way has been cleared for the merger of Rodamco Europe and Unibail after 80% of Rodamco Europe investors tendered their shares, the two property groups said in a joint statement on Thursday. The merger was conditional on Unibail tendering at least 60% of Rodamco's shares. Unibail's exchange offer ran until 20 June, 2007.The merger will create a combine with a EUR 21 bn market capitalisation, making it the largest listed real estate company in Europe.
The two companies said the merger will become effective on 25 June, with the new company known as Unibail-Rodamco. Unibail said it intends to delist Rodamco shares from the Frankfurt Stock Exchange and Euronext Paris, Brussels and Amsterdam exchanges. In Amsterdam, the delisting is conditional on Unibail owning at least 95% of Rodamco's shares.
Unibail and Rodamco Europe announced in April that they intended to combine their activities through a merger, with the proposed offer valuing Rodamco Europe at EUR 11.2 bn.
