COVIVIO : Invest Securities remains Buy
The main shareholders of Covivio Hotels (mainly insurers, 45% of the capital) will not tender their shares to the public exchange offer to be launched on May 30 by Covivio for Covivio Hotels (52% owned by Covivio)", the analyst points out.
The fact that Covivio intends not to contribute to the offer is not really surprising, given the profile of the vehicle, which seems to us to be well suited to the expectations of Covivio Hotels shareholders when they do not have a particular need for liquidity", he continues.
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