Globalworth busy buying as CPI buys its shares

This latest share purchase by the Czech company of 3.68 mln shares follows a series of others over a few days beginning towards the end of January with the acquisition of 13.39 mln shares (a 6 pct stake) on the open market, shortly followed by the purchase of Zakiono Enterprises from Globalworth’s owner Ioannis Papalekas. These have seen CPI’s holding increase to just under the 30 pct threshold for triggering a mandatory takeover bid. CPI, however, has declared in a press statement that is has no desire to buy more Globalworth shares for the moment, but that the reason for its investment in Globalworth is that it has one of the best office portfolios in Poland and Romania, that it is an investor of “high strategic merit” and “brings to CPIPG the kind of enhancements in scale, sector exposure and rental income that our key credit-focused stakeholders should view favourably.”Globalworth gets wallet out too In December Globalworth finalised its purchas