May 24 (Reuters) - Austrian property group CA Immo has decided not to take up a partial offer from the U.S. property investment firm Starwood Capital Group, the company said on Thursday.
The offer from Starwood for a 26 percent stake in CA Immo and for about 5 percent in rival Immofinanz, which was launched in April, has an acceptance period expiring on May 30.
Neither CA Immo treasury shares nor any Immofinanz shares held by CA Immo will be tendered, CA Immo said, adding it holds about 6 percent of its own shares and about 5 percent in Immofinanz.
CA Immo did not give any recommendation on the offer overall. Immofinanz has dismissed Starwood’s bid for a stake as too low. (Reporting by Bartosz Dabrowski Editing by Keith Weir)