On 15 December, Consus announced that Ado Properties had acquired a c 22% stake in the company for €294m in cash. The purchase price of €9.72 per share represents a c 58% premium to the closing price of €6.15 on 13 December. As a result, Ado's current holding is c 25%, with a call option for a further 51% stake. On exercise of the option, Ado intends to make an exchange offer for the remaining shares. The announcement follows the agreed merger of Ado and Adler Real Estate and will make it the third-largest listed residential company in Germany. Moreover, Ado and Consus signed a strategic co-operation agreement on joint development projects.Den vollständigen Artikel lesen ...