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Burlington ups per-share price for Prelios stake buy


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Burlington ups per-share price for Prelios stake buy

Davidson Kempner Capital Management LP's Burlington Loan Management DAC raised the per-share price of the 611,910,548 shares of Prelios SpA it agreed to acquire in July to 11.6 euro cents from 10.5 cents.

Burlington is acquiring the stake from a group of investors, including Pirelli & C. SpA, Intesa Sanpaolo SpA, UniCredit SpA and Fenice Srl.

As a result of the price revision, Pirelli's price of the shares will be raised to approximately €17.2 million from €15.6 million; Intesa Sanpaolo's to about €13.7 million from €12.4 million; Uni Credit's to about €15.7 million from €14.2 million; and Fenice's price of the shares to about €24.5 million from €22.2 million, coming to a total price of approximately €71 million from about €64.3 million.