Qatar Holding Makes Bid for COIMA RES

Posted on 04/28/2022

Qatar Holding LLC, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), launched a voluntary tender and exchange offer on the whole share capital of COIMA RES è una Società di Investimento Immobiliare Quotata (SIIQ) at 10 euros (US$ 10.50) per share. There are 36,106,558 ordinary shares of COIMA RES.

At the moment, Qatar Holding holds 14,450,000 COIMA RES shares, equal to 40.02% of the share capital of the Issuer.

Qatar Holding made the offer through a vehicle called Evergreen S.p.A., which is 97% controlled by Qatar Holding and 3% by COIMA Holding di COIMA GP S.r.l. & C. S.A.P.A, a company indirectly controlled through COIMA GP S.r.l. by Manfredi Catella. The parties acting by agreement will contribute 41.4% of the authorized capital to the acceptance of the offer. Evergreen aims to obtain subscriptions equal to at least 95% of COIMA RES equity and achieve delisting.

QIA is being advised by Citigroup Global Markets Europe AG and law firm Shearman & Sterling LLP.

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