The purchase makes Habas the largest shareholder in Nieuwe Steen Investments.
Habas HZ Investments Ltd. (TASE: HABS) has bought 13% of Dutch real estate investment trust (REIT) Nieuwe Steen Investments NV (AEX:NISTI) for €101.2 million ($133 million), plus €4 million in related costs. The purchase makes Habas the largest shareholder in NSI.
Habas is paying an actual price of $140 million. The company bought 4.55 million shares at €21.90 per share, plus a dividend of €0.34 per share announced in the fourth quarter of 2006. Habas paid €5 million when the deal was signed and will pay the balance on March 13, when the shares are transferred. Habas is financing 60% of the purchase from a foreign financial institution and the rest from equity.
Published by Globes [online], Israel business news - www.globes.co.il - on February 28, 2007
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