First Capital Partner, the majority shareholder of PATRIZIA SE controlled by founder Wolfgang Egger, said on 12 November 2026 it would launch a partial cash offer at €8.20 a share to raise its stake from about 58.89% to up to 73%.
Deal terms and financing
The offer represents a premium of about 30.2% to the previous day's closing price and carries no minimum acceptance threshold. PATRIZIA has agreed not to tender its 5.09% of treasury shares, which it will cancel after the offer. The bidder has undertaken not to enter a domination or profit-and-loss transfer agreement for three years.
Regulatory approvals and timing
Publication of the offer document requires BaFin approval. PATRIZIA will apply to move its shares from the regulated market to the Scale segment of the open market no later than during the acceptance period.
Market context
PATRIZIA's executive and non-executive directors approved the investment agreement without the involvement of Wolfgang Egger and welcomed the bidder's intention to increase its stake.
