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Covivio Hotels — M&A Activity 2011
Jun 1, 2011
1223_iss_2011-06-01_7cd0724a-5287-4891-83df-d18df4a4f82d.pdf
M&A Activity
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Press release
Foncière des Murs and Crédit Agricole Assurances announce their acquisition of a portfolio of 32 Campanile hotels
Paris, 1st June 2011 —Foncière des Murs and Crédit Agricole Assurances' subsidiaries Predica and Pacifica announced on 25 May last that they had finalised the acquisition of a portfolio of Campanile hotels from the Louvre Hôtels group.
which will continue to be run under the
Campanile brand. Campanile is Louvre Hôtels' flagship brand, positioned on the two-star segment and present in nine European countries. The deal includes the signature of twelve-year firm leases, renewable six times, with triple net rents calculated based on revenues.
This real estate partnership between Foncière des Murs, Predica and Pacifica forms part of their strategy of diversifying in a buoyant sector offering healthy returns. By finalising this deal with Louvre Hôtels, Foncière des Murs is also affirming its role as the partner of choice for major hotel operators and pursuing its dynamic growth in this sector.
About the Crédit Agricole Assurances Group
The Crédit Agricole Assurances Group is the European leader in bancassurance and the No. 2 life insurer in France by premium income. It handles all the Crédit Agricole Group's French and international insurance activities and comprises Predica for personal insurance, Pacifica for non-life insurance, CACI for creditor insurance, the international insurance subsidiaries, Caagis for IT management and services, and Spirica and LifeSide Patrimoine for life and savings insurance.
Key figures for the Crédit Agricole Assurances Group (at 31 December 2010): • €29.7 billion in premiums
- €218.5 billion in underwriting reserves
- €1.4 billion in consolidated net income
- More than 3,200 employees
About Foncière des Murs
Foncière des Murs SCA, a subsidiary of Foncière des Régions, is a listed real estate investment trust (SIIC) specialising in business premises, primarily in the hotel, catering, health and leisure sectors. At 31 December 2010, the company's total assets were valued at 3.1 billion euros. Its investment policy focuses on partnering with leading firms in each sector so as to offer shareholders a regular yield on investment.
Foncière des Murs is listed on Euronext Paris, Compartment A of the Eurolist market (FR0000060303 - FMU). www.foncieredesmurs.fr
Press contacts
Crédit Agricole Assurances Elise Bouteiller — + 33 (0)1 43 23 80 71 Camille Langevin — + 33 (0)1 57 72 73 36 [email protected]
Foncière des Murs
Cécile Boyer —Corporate Secretary +33(0)1 58 97 54 47 [email protected]