G City launches mandatory takeover bid for Citycon

Global real estate company G City is launching a mandatory public tender offer to acquire all outstanding shares and securities in Nordic real estate company Citycon.

Iso Omena - Citycon

This follows an increase in G City's total ownership, including its fully owned subsidiary Gazit Europe Netherlands, which now exceeds 50% of Citycon's shares and voting rights. This threshold was crossed following a recent share purchase on November 3, 2025.
G City acquired 14,188,052 shares at €4.00 per share, bringing its direct ownership to approximately 37.68%. Combined with Gazit Europe Netherlands' 19.77% stake, their total holding reached over 50%.
The mandatory offer price for each Citycon share will be €4.00, representing a premium compared to recent trading prices. The formal mandatory tender offer is expected to be announced by December 2, 2025, with the offer period commencing after the Finnish Financial Supervisory Authority (FIN-FSA) approves the offer document. G City may also continue to acquire Citycon shares through other means.
Citycon has stated that these transactions will not impact its business operations. Its independent board members will review the tender offer in accordance with applicable laws and regulations.
G City operates in the Nordic region primarily through Citycon, a company that specializes in owning, managing, and developing urban mixed-use centres. These centres combine retail, office spaces, and housing; are conveniently located in city centres with easy access to public transportation; and feature essential services like grocery stores and healthcare to serve the daily needs of residents.