CTP N.V. (ENXTAM:CTPNV) agreed to acquire remaining 19.10% stake in Deutsche Industrie Grundbesitz AG for approximately Ç120 million on April 22, 2022. Consideration will paid in form of 1.25 CTP share for each DIG share. Following this transaction, DIG will merge with CTP and cease to exist. No changes are intended to occur in the composition of the board of directors of CTP as a result of the merger. The composition of the management board of DIG shall be amended prior to the Merger Effective Time and will then comprise of Remon Leonard Vos and Richard John Wilkinson. Further, the composition of the supervisory board of DIG shall be amended prior to the Merger Effective Time and it is expected that it will then comprise of Barbara Antonia Knoflach, Susanne Eickermann-Riepe and Gerardus Wenceslaus Ignatius Maria van Kesteren. Upon merger becoming effective, DIG employees will become employees of CTP. The combination and consolidation of DIG's assets and operation as part of the CTP Group by way of the merger is expected to entail significant strategic and economic advantages for the development of the business of the combined Group. According to CTP's assessment, the joint management of the portfolio of the CTP Group and the DIG Portfolio will create synergies in the amount of approximately Ç7 million.
CTP N.V. (ENXTAM:CTPNV) completed the acquisition of remaining 19.10% stake in Deutsche Industrie Grundbesitz AG on August 23, 2022. Through the transaction CTP N.V. (ENXTAM:CTPNV) acquired 100% ownership of Deutsche Industrie Grundbesitz, and the Deutsche Industrie Grundbesitz entity ceased to exist.