Aroundtown SA (AT1.DE), a real estate company, on Wednesday announced a voluntary public acquisition offer to shareholders of Grand City Properties S.A., aiming to acquire up to 47.45 million shares through an exchange offer.
Under the terms, Aroundtown will provide 4 of its own treasury shares for each GCP share tendered. The exchanged Aroundtown shares will carry dividend rights from January 1, 2025.
The offer is limited to a maximum holding of 89.5% of GCP's share capital, including shares held prior to the offer, and there is no minimum acceptance threshold. If tendered shares exceed the maximum offer volume, they will be scaled back on a pro-rata basis. The offer is expected to conclude by early April.
Further, the board intends to propose a dividend of EUR 0.08 per share for 2025, marking the first dividend proposal since 2021. The company added that GCP shares tendered in the offer will be eligible for the dividend. Aroundtown has also updated its dividend policy, targeting a payout of 50% of FFO per share starting in 2026.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.