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An update from NEXT RE SIIQ S.p.A. ( (IT:NR) ) is now available.
CPI Property Group S.A., a Luxembourg-based real estate group, has advanced its voluntary public tender offer for all ordinary shares of NEXT RE SIIQ S.p.A., reaching an interest exceeding 90% of the listed shares. This level of control, achieved through tendered shares combined with those already held and treasury stock, positions CPI to proceed toward full ownership and the removal of NEXT RE from public trading.
With the threshold condition for effectiveness now satisfied, the remaining condition relates to the absence of a material adverse event, on which CPI will update the market before the scheduled payment date. Assuming this is met or waived, CPI intends to exercise its purchase right and fulfill its purchase obligation under Italian law, leading to a squeeze-out of remaining minority shareholders, suspension of trading, and eventual delisting of NEXT RE from Euronext Milan.
More about NEXT RE SIIQ S.p.A.
NEXT RE SIIQ S.p.A. is an Italian real estate investment company whose ordinary shares are listed on Euronext Milan, the market organized and managed by Borsa Italiana. The company operates under the SIIQ regime, focusing on income-producing property investments and serving investors seeking listed exposure to the Italian real estate sector.
Average Trading Volume: 915
Technical Sentiment Signal: Sell
Current Market Cap: €32.71M
For detailed information about NR stock, go to TipRanks’ Stock Analysis page.