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Covivio — M&A Activity 2014
Mar 13, 2014
1222_iss_2014-03-13_03fe4a45-3065-4519-9f7d-6b7672d1d9a5.pdf
M&A Activity
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PRESS RELEASE
Paris, March 13th 2014
Foncière des Régions accelerates its strategic refocusing by selling nearly 60% of its logistics assets for €473 million
Foncière des Régions has signed agreements with real estate funds managed by Blackstone to sell €473 million in logistics assets. These agreements concern 17 logistics platforms, representing a total surface area of nearly 750,000 sqm, located in France and Germany. The assets will be integrated into Logicor, Blackstone's European logistics platform.
This transaction, which should be finalised in June 2014, will be carried out in-line with the last appraised values.
With this transaction, Foncière des Régions accelerates its refocusing on its core business activities: the leasing of Offices to large companies, as well as the Hotels & Service sector and the German residential sector, two diversifications in solid and profitable markets.
At the conclusion of this disposal, the Core business activities of Foncière des Régions will represent 90% of the Group's share of assets, compared to 85% at the end of 2013.
"With this transaction, Foncière des Régions reaches an important milestone in its strategic refocusing. We now have additional resources to continue investing in our core business", declared Christophe Kullmann, Chief Executive Officer of Foncière des Régions.
Media Relations Géraldine Lemoine Tel: + 33 (0)1 58 97 51 00 [email protected]
Investor Relations Sébastien Bonneton Tel: + 33 (0)1 58 97 52 44 [email protected]
Foncière des Régions, real estate partner
As a partner to companies' real estate strategy, Foncière des Régions designs simple and innovative solutions alongside them. The aim of these strategies is twofold: of adding value to existing urban property and designing buildings for the future.
Foncière des Régions owns and manages real estate assets of €10 bn group share (€16 bn total share), which are primarily rented to key accounts who are the leading companies in their sector (Suez Environnement, Thales, Dassault Systèmes, Orange, EDF, IBM, and Eiffage, etc.). This responsible partnership culture is based on key values and know-how: namely vision and expertise.
Foncière des Régions shares are listed in the Euronext Paris A compartment (FR0000064578 - FDR), are admitted for trading on the SRD, and are included in the composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100 indices, in the "EPRA" and "GPR 250" benchmark European real estate indices, and in the FTSE4 Good, DJSI World and NYSE Euronext Vigeo (World 120, Eurozone 120, Europe 120 et France 20) ethics indices.
Foncière des Régions is rated BBB-/Stable by Standard and Poor's.