AIRE KGaA – Increase of Tender offer to 18,25 EUR per share, Q1 report and Uncle Sam

What a day again for the AIRE KGaA stock.

As reader AS has commented already, AIG has increased the tender offer again up to 18.25 EUR per share.

To make the situation even more interesting, the Swiss fund Alpine Select filed that they have increased their share holding to close to 17%.

In parallel, AIRE published today the Q1 report 2012 which did not contain any news. Money is still coming back. Interestingly they showed on page 8 that 55% of the portfolio is residential real estate, I assume most of this in the US. Current NAV is around 20 EUR.

One funny aspect of the current situation:

I was quite confused that the US Treasury Department was disclosing a stake in AIRE KGaA, ut the i read this sentence:

These voting rights are to be attributed pursuant to sec. 22 para. 1 sentence 1 no. 1 WpHG via American International Group, Inc., United States of America.

As the US Treasury is still holding the majority in AIG, effectively one can sell now the AIRE shares to Uncle Sam.

I think I will soon start selling the shares as the upside seems to be now relatively limited. at the current price it will e the first real “Double”.

2 comments

  • alpine sold:

    Alpine Select AG, Zug, Schweiz, hat uns am 21. Mai 2012 gemäß § 21 Abs. 1 WpHG
    mitgeteilt, dass ihr Stimmrechtsanteil am 18. Mai 2012 die Schwellen von 15 %,
    10 %, 5 % und 3 % unterschritten hat und an diesem Tag 0 % beträgt

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