サンケイリアルエステート投資法人
Latest Tokyo Brief coverage on SANKEI REAL ESTATE, tracking filings, financial news, and market signals from Japan.
TSE:2972
City Index Fifth lengthened its ¥125,000-per-unit offer for Sankei Real Estate to Nov 30 and moved settlement to Dec 7, after a private-equity fund sent a non-binding proposal at least 5% higher but launched no offer.
An unnamed private equity fund has told Sankei Real Estate Investment Corporation it is weighing a tender offer at least 5% above the ¥125,000-per-unit bid, with a binding proposal possible from late November once due diligence and financing talks are complete and its investment committee approves.
Two of four joint holders of 29.90% of Sankei Real Estate agreed to tender into C5's offer and two agreed not to; ATRA has decided to buy one holder's 9.89% about two months after a successful offer, if a squeeze-out follows.
Directors at Sankei Real Estate Investment Corporation have endorsed City Index Fifth's ¥125,000-per-unit tender offer for the Tokyo-listed REIT, the same price a rival bid failed to clear in May, while leaving unitholders to decide for themselves whether to sell.