28-05-2025
Hyprop and PKI compete for control of MAS after escalating bids
JSE and Altx-listed central and eastern Europe property investment group MAS has received offers to buy out its shareholders from Prime Kapital Investment Holdings (PKI) and South African retail-focused property Hyprop.
A bidding war may have started for JSE and Altx-listed central and eastern Europe property investment group MAS, between Prime Kapital Investment Holdings (PKI), which on Wednesday doubled its cash offer to a maximum of €80 million (R1.43 billion), and South African retail-focused property Hyprop.
PKI's lifting of its offer for 65% of MAS followed a notice by Hyprop a day before that it wishes to acquire control of MAS in a share-for-share or share-for-cash deal, which would be determined based on the closing market price of MAS shares on May 23, 2025, rather than the lower PKI cash offer price of €0.85 per MAS share, as announced by MAS on May 16, 2025.
PKI has subsequently increased its cash offer from €0.85 per share to €1.10 per share. PKI is a real estate developer, investor, and operator in Central and Eastern Europe, specialising in retail, residential, office, and mixed-use developments.
