Grand City Properties acquires 20% stake in LEG Immobilien, may raise to 29.9%

Grand City Properties S.A., a subsidiary of Aroundtown SA, acquired a 20% stake in LEG Immobilien SE, treating it as a financial investment. The company is evaluating options including potentially raising the stake to up to 29.9% or reducing/divesting the position. The stake's book value is estimated at about €1.8bn, above its current market valuation, which could yield a one-time non-cash gain.

Detected & updated continuously · Source: Nebula