PAI partners denies public offer for Kaufman & Board

Following market rumors, PAI partners has stated it does not intend to make a public offer on the outstanding Kaufman & Board shares they do not yet own. PAI currently holds an 85.66% share in the property developer.

PAI partners originally purchased a 49% stake in the listed company for a total of EUR600m in May 2007.

Kaufman & Broad, founded in 1968, specialises in the design, building and sale of homes and apartments, as well as office properties on behalf of third parties.

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