Globalworth Asset Managers SRL to acquire shares in Griffin Premium

AIM-listed real estate company Globalworth Real Estate Investments has announced on Wednesday that the tender offer in relation to its subsidiary, Globalworth Asset Managers SRL’s conditional investment agreement to acquire a stake in the capital of Griffin Premium, has become unconditional in all respects.

Globalworth Asset Management will now be able to acquire a minimum of 50.01% and up to 67.90% of Griffin, a Dutch entity listed on the Warsaw Stock Exchange by way of public tender offer, for a total consideration of PLN 583m (€138m2) from the company's existing cash.

Dimitris Raptis, deputy chief executive officer and chief investment officer of the Company, commented: "We are very pleased to have successfully concluded the Tender Offer and were delighted to accept tenders giving us an aggregate 67.90% shareholding in GPRE while maintaining the listing on the Warsaw Stock Exchange. Our expansion into Poland, the largest market in Central and Eastern Europe, is a pivotal development in Globalworth's strategy to establish itself as the region's leading office investor, present in the two key markets of Poland and Romania. In conjunction with the already announced acquisitions GPRE is now moving into its next phase of growth and value creation."