DIC Asset stock story
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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