On April 3, it was reported that the price of the tender offer by…
On April 3, it was reported that the price of the tender offer by JSC «Real Estate Assets» for the acquisition of shares of PJSC «PIK – Specialized Developer» is 551.4 rubles per share. The price of the «Real Estate Assets» tender offer amounted to 551.4 rubles for a share.
Consensus
- The Central Bank of Russia rejected the request by 'Nedvizhimye Aktivy' for approval to compulsorily buy minority shares in PАО 'PIK – specialized developer'.
- The Central Bank found that the request did not comply with Russian legislation, specifically Law No. 208-FZ on Joint-Stock Companies.
- A proposal was made by 'Nedvizhimye Aktivy' on March 18 to buy shares of PАО 'PIK'.
- The offer price for the shares was set at 551.4 Russian rubles per share.
- The offer covered 15.12% of the shares in PАО 'PIK'.
- On April 3, the board of directors of PАО 'PIK' recommended that shareholders accept the offer from 'Nedvizhimye Aktivy'.
Points of divergence
- The Central Bank issued a directive to 'eliminate violations' of requirements established by Law No. 208-FZ. — vedomosti
- As of July 3, 'Nedvizhimye Aktivy's direct ownership in PАО 'PIK' was 76.13%, having increased from 63% previously; the total control including affiliated entities reached up to 98% if the increase reflects offer results. — interfax
- The beneficiaries of 'Nedvizhimye Aktivy' are not disclosed, but approximately 15% of PАО 'PIK' is held by companies affiliated with Sergey Gordeev as of end-2024. — interfax
Coverage (2 sources)
- Central Bank rejected PIIK's majority shareholders' request to approve share buyout — Ведомости
- Majority shareholder of 'PIK' sent a buyout demand for its shares, but the Central Bank did not approve it — Интерфакс