March 22, 2018 / 8:49 AM / a year ago

CA Immo, Immofinanz shares move toward Starwood offer prices after bid

FILE PHOTO: The logo of Austrian property goup CA Immo is pictured at the entrance of an office building in Vienna, Austria, February 26, 2016. REUTERS/Heinz-Peter Bader/File Photo

VIENNA (Reuters) - Shares in Austrian property groups CA Immo (CAIV.VI) and Immofinanz (IMFI.VI) rose on Thursday to levels close to offer prices announced on Thursday earlier in the day by U.S. firm Starwood Capital Group in a bid to buy minority stakes.

Starwood is seeking to buy up to 26 percent of CA Immo at 27.50 euros a share, minus any dividend. By 0815 GMT the shares had risen 3.6 percent to 27.50 euros.

Shares in Immofinanz rose 4.3 percent to 2.09 euros after Starwood said it was seeking to acquire 5 percent of the company at 2.10 euros per share, minus any dividend.

Reporting by Francois Murphy; editing by Jason Neely

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