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Icade — M&A Activity 2009
Sep 1, 2009
1424_iss_2009-09-01_4232f6dd-6d8f-4cf1-95f0-0827031d5f60.pdf
M&A Activity
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Press Release Paris, 1st September 2009
Transfer of Icade Eurogem to the TFN Group
Following exclusive negotiations that started in April 2009, Icade is announcing that the transfer of Icade Eurogem to the TFN Group took place on 26 August after all the suspensive conditions were lifted. It should be recalled that the transfer of Icade ADB to Procivis Immobilier took place on 30 June 2009.
These two transfers are in line with the strategy announced at the Icade board meeting of 9 October 2008 concerning service activities.
Contacts
Nathalie Palladitcheff Member of the Executive Board, responsible for finance +33 (0)1 41 57 70 12 [email protected]
RÄmi Lemay Financial and External Communication Manager +33 (0)1 41 57 71 05 [email protected]
About Icade
Icade is a listed investment property company and a subsidiary of the Caisse des DÄpÅts. Icade is a major player on the property market. Its business activities cover the whole value chain, including investment, development and services in offices, business parks, shops and shopping centres, public-health amenities and housing. The company's expertise is expressed through designing, developing, investing, holding, buying and selling, operating and managing. Expertise in its different business lines means that Icade is able to provide its clients with personalised solutions and to act in respect of all the sector's current concerns. In 2008, Icade reported consolidated turnover of €1,599 million and net current cash-flow of €206 million. The revalued liquidation net asset value rose to €4,954 million, i.e. €101.6 per share as of 31st of December 2008.
This press release does not constitute an offer, or an offer solicitation to sell or exchange any shares or a recommendation to subscribe, buy or sell any Icade shares. Distribution of this press release may be restricted in some countries by legislation or regulations. Accordingly, persons who come into possession of this press release should inform themselves and comply with such restrictions. To the fullest extent permitted by applicable law, Icade disclaims any responsibility or liability for the violation of any such restrictions by any person.