‘Obtaining a majority stake in Tigné Mall plc is aligned to our real estate acquisition strategy’ – Hili Ventures

Marsamxett Properties Ltd, a subsidiary of Hili Ventures, has launched its conditional voluntary public offer for the remaining share capital of Tigné Mall plc, with a spokesperson for Hili Ventures describing the bid

Marsamxett Properties Ltd. currently holds just over 49.68 per cent of the issued share capital of Tigné Mall p.l.c., the publicly-listed company that manages and operates The Point shopping mall in Sliema.

Through its bid, it is offering to buy the remainder of the shares currently held by members of the public and listed on the Malta Stock Exchange.

An Offer Document released by Hili Ventures sets out the conditions of the offer and further details for interested parties.

The offer opens on 16th September 2024 at 8.30am, and interested shareholders can lodge their applications with an Authorised Intermediary as of that date.

The company is offering €1.04 per share to all shareholders submitting a completed Acceptance Form by 7th October 2024.

As at the time of writing, Tigné Mall plc is trading at €1 per share, the highest it’s been since at least 2019. During Tigné Mall’s IPO in 2013, shares were being offered at €0.50 per share.

Given Hili Ventures’ diversified portfolio across sectors, WhosWho.mt reached out to explore what strategic value would the full acquisition of Tigné Mall bring to the group’s long-term vision, and how it fits into its broader goals for real estate investment.

A spokesperson said that The Point has positioned itself “as a prime shopping destination for both locals and tourists”.

“It’s strategic location, tenant mix and financial performance show the business is well-poised to grow and capture new opportunities. Obtaining a majority stake in Tigné Mall plc is aligned to the group’s real estate acquisition strategy, which is to build value and growth through expert, effective asset management,’ the spokesperson further said.

This investment is the first retail complex in the group’s Malta portfolio.

Through its various subsidiaries, Hili Ventures owns a vast portfolio of commercial real estate assets across Europe, including shopping centres, healthcare facilities and office buildings.

It is also engaged in food service & retail, hospitality, shipping & logistics, engineering and technology in 10 countries across Europe and North Africa with a team of 12,000+ people.

From its headquarters in Malta, Hili Ventures steers its subsidiaries and is also a partner of Apple, Konecranes, McDonald’s, Microsoft, NCR, Six Senses and many other global brands.