Reinsurer Scor to buy Altarea's stake in MRM and will then aim to de-list MRM
Sept 27 (Reuters) -Scor SCOR.PA:
SCOR, MRM'S REFERENCE SHAREHOLDER, ANNOUNCED ITS INTENT TO ACQUIRE ALL REMAINING SHARES OF MRM THROUGH A SIMPLIFIED PUBLIC TENDER OFFER
M.R.M. SA informed that SCOR SE has reached an agreement to acquire Altarea SCA’s stake in MRM, representing circa 15.92% of the share capital, bringing SCOR’s shareholding in MRM to circa 72.5% of the share capital and voting rights.
This transaction will result in the loss of MRM’s status as a listed real estate investment company subject to the French REIT regime.
This offer would be followed by a squeeze-out with the intent to delist MRM by the end of 2024
SCOR is considering an estimated Offer price of 35.4 euros per MRM share based on MRM's NTA Adjusted Net Asset at 30 June 2024
Source text for Eikon: ID:nGNE1XNSqf
Further company coverage: SCOR.PA
Reporting by Sudip Kar-Gupta
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