rol up 10% in frankfurt...., page-9

It seems like a takeover by other means - ie. Salim underwrites an issue at a substantial market premium (rather than, as would normally be expected, a discount to market), 0% uptake, Salim increases its shareholding, collects an underwriting fee, collects 20% of the underlying asset. Much less fuss than a scheme of arrangement. Just not sure how this is anything but highly dilutive to minority shareholders.
I want to invest in Salim, not ROL.