Marsamxett Properties Ltd’s bid to acquire all issued shares of Tigné Mall plc has gained significant traction as Mapfre MSV Life accepted the offer for its 35.46 per cent stake, representing 20 million shares.
The bid, launched on 13th September 2024, closed on 7th October 2024.
This acceptance marks a critical step toward Marsamxett Properties potentially taking full control of Tigné Mall.
Prior to the launch of its conditional voluntary public offer, Marsamxett Properties held just over 49.68 per cent of the issued share capital of Tigné Mall p.l.c., the publicly listed company that manages and operates The Point shopping mall in Sliema.
In an opinion published by Tigné Mall on the takeover bid, the company confirmed that Marsamxett Properties intends to maintain The Point as a premier shopping mall, and it does not intend to materially change the company’s strategy or operational model.
Main Image:The Point Shopping Mall / Facebook
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Helena Grech
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