BNP Paribas, acting on behalf of Covivio, filed a simplified public exchange offer (OPES) for Covivio Hotels shares with the AMF on Friday evening, as announced on February 22.

The offeror irrevocably undertakes to acquire, by delivery of 31 new Covivio shares to be issued for every 100 Covivio Hotels shares (ex dividend) tendered, all the 70,849,242 shares not held by it, i.e. 47.83% of the share capital of this real estate company.

The offeror does not intend to implement a squeeze-out concerning the shares at the end of the offer. This proposed OPES follows Covivio's acquisition of the 8.3% stake in Covivio Hotels held by Generali, in exchange for new Covivio shares.

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