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Colony Capital offers 0.25 euros/shr for Risanamento freefloat
February 21, 2014 / 8:03 AM / in 4 years

Colony Capital offers 0.25 euros/shr for Risanamento freefloat

MILAN, Feb 21 (Reuters) - U.S.-based investment fund Colony Capital said on Friday it had offered to buy the stakes in Risanamento held by the loss-making real estate group’s creditor banks at 0.2 euros per share and would then offer 0.25 euros for remaining shares.

The offer, which has been sent to the bank shareholders on February 17, would be carried out through the vehicle OUI, the fund said.

OUI is 70 percent owned by Colony while the rest is held by Italian businessman Luigi Zunino who is the founder of Risanamento.

Colony capital said the offer included the reimbursement of part of Risanamento’s debt as well as the purchase of a Paris property portfolio for 195 million euros.

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