Brookline Real Estate SARL is planning to launch a mandatory public takeover offer to shareholders of Berlin-based Accentro Real Estate AG following its acquisition of 79.95% of the voting rights in the company.
The Brookline Capital LP-controlled holding company said in a release that it gained control over Accentro. Under a share purchase agreement with Accentro's majority shareholder, Adler Real Estate AG, Brookline Real Estate acquired beneficial ownership in roughly 19.9 million bearer shares in the German company. Adler has the option to sell an additional 6.22% stake in Accentro's share capital and voting rights in a year from Nov. 30.
In October, Adler agreed to sell a roughly 82% stake in Accentro for about €180 million in a deal involving around 80% of the shares in the latter and about 92% of its issued convertibles 2014/2019.
Frankfurt-listed Accentro provides privatization services for residential properties across Germany.
