White & Case Advises Aroundtown on Cash Offer Alongside CPI Property Group for Globalworth Real Estate Investments Limited
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Global law firm White & Case LLP has advised Aroundtown SA (Aroundtown) on its cash offer to acquire the entire issued and to be issued share capital of Globalworth Real Estate Investments Limited (Globalworth), as part of a consortium with CPI Property Group S.A. (CPI).
The cash offer is being implemented by way of a takeover offer under which Globalworth shareholders will receive €7.00 in cash for each share held, valuing Globalworth at approximately €1.571 billion.
Aroundtown is a Frankfurt-listed real estate company with a focus on central locations in top tier European cities primarily in Germany and the Netherlands.
Globalworth is an AIM-listed, Guernsey incorporated real estate company, with a primary focus on Poland and Romania and a real estate portfolio valued at approximately €3 billion. The consortium currently holds approximately 51.5 percent of the existing issued share capital of Globalworth.
The transaction is subject to the UK Takeover Code. Closing of the transaction is subject to certain conditions, including Polish and Romanian regulatory approvals. For more information, please see the rule 2.7 firm offer announcement in respect of the offer here.
The White & Case team in London which advised on the transaction was led by partners Margot Lindsay and Dominic Ross and included partners Marc Israel, Will Smith and Nicholas Greenacre and associates Sonica Tolani, Samirah Haujee and Kate Kelliher.
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