M&A Activity • Apr 29, 2014
M&A Activity
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Paris, April 29, 2014
SCI Beaugrenelle, the property investment company in which Gecina has a 75% stake alongside Foncière Euris, Rallye, Apsys and Paris Orléans, has completed on the shopping center's sale, with its ownership transferred to a consortium of private investors assembled around Apsys.
The sales price, unchanged from the amount in the preliminary sales agreement signed on February 20, 2014, came to 700 million euros (including transfer taxes).
On this operation, Gecina was advised by Morgan Stanley, HSBC and CA-CIB as financial advisors, by the law firm De Pardieu Brocas Maffei for legal advice, and by the notary's office Cheuvreux & Associés, with Convergences CVL providing real estate advice.
Gecina owns, manages and develops property holdings worth 10.8 billion euros at December 31, 2013, with 90% located in the Paris Region. This real estate company's business is built around an Economic division, including France's largest office portfolio, and a Demographic division, with residential assets, student residences and healthcare facilities. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers' expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.
Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Euronext Vigeo France 20 indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.
www.gecina.fr
CONTACTS Financial communications communications Press relations relations Elizabeth Blaise Armelle Miclo Tel: + 33 (0)1 40 40 52 22 Tel: +33 (0) 1 40 40 51 98 Virginie Sterling Tel: + 33 (0)1 40 40 62 48
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