Dutch pension fund acquires 9.8% of Century Properties
"In a disclosure to the Philippine Stock Exchange on Tuesday, CPG [Century Properties Group] said parent firm Century Properties Inc. (CPI) had entered into a deal to sell about 868.32 million CPG shares to APG Strategic Real Estate Pool NV.
"A CPG spokesperson said the shares were sold to APG at P1.75 per share, at which secondary shares were placed out during a recent offshore offering. This suggested that APG had acquired the bloc for about P1.52 billion. ..."APG manages pension assets of about 284 billion euros as of December 2011 and administers more than 30 percent of all collective pension schemes in the Netherlands."
