Promontoria Bravo Designated Activity Company made an offer to acquire Optimum RE Spain, SOCIMI, S.A. (BME:YORS) from Marc Sabé, BMB Cap Management, Antonio Gallardo Torrededía and others for €70.1 million on June 12, 2019. Cerberus offered to pay €14.10 per share. Cerberus' offer is conditional on at least 75% of the share capital signing an irrevocable commitment to sell its shares. The 75% offer will be paid in cash to the shareholders at the time of the closing of the transaction and the remaining 25% will be paid within a period of 18 months. However, for investors who want to charge 100% at once, Cerberus offers, as a second option, to buy their shares at €13.3 per share. As on August 12, 2019, Promontoria Bravo Designated secured the commitment of 92.88% stake in Optimum RE Spain. For the additional 7.12% stake, Promontoria Bravo Designated Activity will launch a public tender offer at €14.05 per share. Under the terms of transaction, offer price will be either €14.05 per share (75% to be paid on closing date and 25% will be paid after 18 months from closing date) or €13.28 per share (paid in full on closing date). The acceptance period of the offer start on August 13, 2019 and end on September 9, 2019.