VIENNA, April 13 (Reuters) - Austrian property group Immofinanz has sued rival CA Immo to try to prevent it from buying more shares or exercising voting rights in a bid battle, magazine Profil reported on Monday.
A spokesman for Vienna’s Commercial Court confirmed it was handling the lawsuit filed last week and would try to rule on it by Friday, when Immofinanz shareholders meet to address a counter bid by Immofinanz for a minority stake in CA Immo.
Immofinanz last week recommended its shareholders reject a 2.80 euro per share offer that CA Immo and its partner O1 Group made for a minority stake in the company.
The rivals are trying to build minority stakes in each other in a heated battle that could eventually lead to a merged group with a combined property portfolio of around 10 billion euros ($10.6 billion).
The head of O1’s property unit said last week that CA Immo and O1 Group did not intend to raise the offer, which expires on Wednesday.
$1 = 0.9436 euros Reporting by Michael Shields; Editing by Mark Potter