The real estate group Deutsche Euroshop, which specializes in shopping centers, is to be taken over. The shareholders are to be offered a total of EUR 22.50 per share, as the investment vehicle Hercules BidCo announced on Monday. The offer price consists of EUR 21.50 per share plus EUR 1 as a dividend for the 2021 financial year, subject to a corresponding resolution at a general meeting. Behind the investment vehicle is a joint holding company of the financial investor Oaktree and Cura, the family office of the Otto family. With a good 20 percent, Alexander Otto is already the largest single shareholder in Deutsche Euroshop.
The Euroshop share closed at EUR 15.63 on Friday, with a price of EUR 22.50, the premium is around 44 percent. The Board of Management and the Supervisory Board of Deutsche EuroShop recommend accepting the offer. The bidders are aiming for a minimum acceptance threshold of 50 percent plus one share, including the shares in Deutsche Euroshop, which are already controlled. (dpa)