Marsamxett Properties, a Hili Ventures company, has announced plans to acquire Tigné Mall p.l.c. , the publically-listed company that runs The Point shopping mall.
It already holds just over 49.68% of the issued share capital of Tigné Mall and has now announced a bid to buy the rest of the shares currently held by members of the public and listed on the Malta Stock Exchange at a fixed price.
It said the board of directors of Tigné Mall was officially informed of its intention on Tuesday.
Details of the offer, including the buying price and terms and conditions, will be announced over the coming days with the publication of the Offer Document.
Malta-based Hili Ventures is a diversified group active in food service, retail, real estate, hospitality, shipping, oil and gas, engineering, and technology. Through its various subsidiaries, the group owns a vast portfolio of commercial real estate assets across Europe, including shopping centres, health care facilities and office buildings.
Tigné Mall in the first half of 2023 announced a pre-tax profit of €2.4 million.
It said at the time that its occupancy rate was very high, indicating a strong demand for premium retail space.
