After years of competing bids to buy each other out, the rival Austrian property companies CA Immo and Immofinanz have had an outsider made bids for stakes in them both. Starwood Capital announced its intention Thursday to seek as much as 26 percent of CA Immo by offering €27.50 per share. This happens to be the size of the share Immofinanz holds in CA Immo. At the same time, Starwood offered €2.10 per share in Immofinanz of which it aims to control 5 percent. Shares in both companies rose on the news. “It is not the intention of the Bidder to completely take over CA Immo with this takeover offer,” wrote CA Immo in a statement. “Upon completion of the takeover offer, CA Immo shall remain listed on the Vienna Stock Exchange.”
