The insurance company Mapfre MSV Life will accept a voluntary takeover bid by the Hili subsidiary Marsamxett Properties for its substantial 35.46% holding in Tigné Mall plc.
The company said it will transfer its 20 million shares in the Tigné Point shopping mall to Marsamxett Properties, which will proceed to acquire the entirety of the public shareholding.
At €1.04 per share, the sale would be valued at €20.8 million.
On 13 September, Marsamxett Properties, the largest shareholder of Tigné Mall holding 49.68% of the issued share capital, announced the launch of a takeover bid for the acquisition of all the issued share capital of Tigné Mall at €1.04 per share.
