Hispania’s Board of Directors approved a revised bid price of 18.25 euros per share ($21.25) for the company from Alzette Investment S.à r.l., a company controlled by The Blackstone Group.
MADRID, 22 June 2018--HISPANIA ACTIVOS INMOBILIARIOS SOCIMI, S.A. (“Hispania” or the “Company”), pursuant to article 17 of Regulation (EU) 596/2014 of 16 April 2014 on Market Abuse (Market Abuse Regulation), and article 228 of the restated text of the Spanish Securities Market Act, approved by Royal Legislative Decree 4/2015 of 23 October, hereby submits the following
1. Alzette Investment S.à r.l., a company controlled by The Blackstone Group L.P. (the “Bidder”), has submitted to the Board of Directors of Hispania a binding proposal to amend the voluntary takeover bid launched by the Bidder for all the shares not already held by it of the Company approved by the Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores) (the “CNMV”) on 12 June 2018 (the “Bid”), which consists in increasing the consideration offered from 17.45 euros per Hispania share to 18.25 euros per share (the “Revised Bid Price”).
2. The Board of Directors of Hispania has considered and evaluated together with its advisors the binding proposal received by the Bidder, and has concluded that the Revised Bid Price of 18.25 euros per share is adequate.
3. Today the Bidder has filed with the CNMV a relevant fact disclosing its decision to increase the price of the Bid according to the terms referred to in the paragraph above.
4. As mentioned in such relevant fact, Hispania has confirmed to the Bidder that it considers that the Revised Bid Price is attractive, that the Board of Directors of Hispania will unanimously recommend the Bid at the Revised Bid Price to Hispania’s shareholders and that all the directors of Hispania have agreed to accept the Bid in respect of their own shareholdings.
5. Furthermore, it is hereby reported that the market value of the real estate asset portfolio of the Company deriving from the appraisal report prepared, at the Company’s request, by CBRE Valuation Advisory, S.A., pursuant to the valuation and appraisal professional standards of the RICS (Royal Institute of Chartered Surveryors), under net market value assumptions as of 31 May 2018, is TWO THOUSAND EIGHT HUNDRED AND ELEVEN MILLION AND FIFTY SIX THOUSAND EURO (€2,811,056,000), which represents a revaluation of 5.7% over the last market value of the assets as of 31 December 2017.
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