Spain's bourse regulator CNMV has approved the EUR 2 bn takeover bid launched by Colonial for shopping centre specialist Riofisa. The offer values Riofisa at EUR 44.31 per share, which compares to the price of EUR 43.85 at which Riofisa shares were trading at 2 pm on Wednesday. Colonial´s offer is conditional on the company tendering at least 50% of Riofisa's shares. The deal is expected to create the largest property company in Spain with a market value of EUR 14.85 bn, placing it ahead of Metrovacesa.
Premium subscriber content – please log in to read more or take a free trial.
