DIC Asset announced today they have entered into agreements with TLG Immobilien to accept their public takeover offer for DIC Asset’s block of shares in WCM (which is approximately 25.95% of the share capital fo WCM). The offer will be paid for with new shares of TLG Immobilien. The offer corresponds to a premium of c. 17.8% on the pro forma NAV per share as communicated by WCM.
This development is a positive for DIC Asset who has held WCM for about 15 months now. The value of the transaction at announcement was €3.36 per share versus cost to DIC of €2.79.
DIC Asset is 2.64% of the portfolio as at 30 Apr 2017.
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