trending Market Intelligence /marketintelligence/en/news-insights/trending/jz0r81y_ewsa0szhbuehba2 content esgSubNav
In This List

Realty Invest's buyout offer for Chagala Group closes

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective

Blog

Insights Weekly: Midstream sector gains; loan growth momentum; insurance M&A on the rise


Realty Invest's buyout offer for Chagala Group closes

Kazakhstan-based Chagala Group Ltd. said Realty Invest Holding LLP's cash offer to buy all of Chagala's shares and/or depositary interests for US$2.15 per share has closed and has not been extended.

Valid acceptances were tendered for a total of 14,254,951 Chagala shares, including shares represented by Chagala depositary interests. The shares are equivalent to roughly 67.08% of the hotel group's issued share capital at the time of the closing of the offer, according to a release.

Chagala has agreed to fulfill Realty Invest's request to appoint Borko Moric and Bojan Moric as directors, effective Oct. 11.

Chagala added that as at Oct. 11, the direction notices from June 10, 2016, that were issued by its directors to certain shareholders of the company will be canceled in accordance with the settlement agreement between Chagala, TIPP Investments PCC and certain other defendants in a litigation in the British Virgin Islands that was initiated by TIPP.