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Austrian UniCredit boosts CA Immo stake to 17%
The UniCredit group has boosted its stake in Vienna's listed CA Immo to 16.9% from 11.88% after a take-over bid up to 29% at E12.35 per share ending on 16 February. CA Immo noted that the offer price, though 18.6% above current price, was 31.2% below last published NAV. The move appears to be mainly aimed at balance sheet enhancement by the bank.