Takeover offer for ImmoMentum AG
On August 29, Talbot Holding AG launched a public tender offer for all publicly held registered shares of ImmoMentum AG at a price of CHF 2.810 in cash per share.
The offer price shows a premium of 35.65 percent over the par value-adjusted valuation by the independent auditor and a premium of 36.93 percent over the par value-adjusted reported net asset value (NAV) as of December 31, 2016. The ImmoMentum Board of Directors supports the purchase offer and unanimously recommends it to the shareholders for acceptance.
After completion of the public tender offer, Talbot Holding AG from Wilen (TG) intends to initiate a squeeze-out procedure and to delist the shares of ImmoMentum AG. The real estate company, founded in 2004 and headquartered in Aadorf (TG), has been listed on the BX Berne Exchange since April 2008. ImmoMentum's real estate portfolio comprises a total of 32 investment properties with a total acquisition value of over 257.8 million.
Talbot and the persons and companies acting in concert with Talbot currently already hold a 20.96 percent stake in Immobilien-AG. Furthermore, Talbot has already received tender declarations corresponding to 1.43 percent of ImmoMentum's share capital.
The public tender offer is subject to customary offer conditions for such a transaction, namely a minimum tender ratio of 66.66 percent. After a waiting period of ten trading days, the offer period is expected to start on September 13, 2017 and end on October 10, 2017.
