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Icade — M&A Activity 2016
Sep 30, 2016
1424_iss_2016-09-30_8b887b6f-c351-4134-ac6f-6952278df1a3.pdf
M&A Activity
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PRESS RELEASE
Paris, 30 September 2016
ICADE: SUCCESSFUL DISPOSAL OF SERVICES ACTIVITIES
In line with the announcements made in July 2016, on 30 September 2016 Icade successfully sold its subsidiaries Icade Asset Management and Icade Conseil to Colliers International Group and its subsidiary Icade Property Management to Foncia Group.
By selling its Services division, Icade has refocused on its core businesses as a property investment and property development company and strengthened its business model as an integrated real estate company.
Icade was advised by law firm MBA Moisand, Boutin & Ass. and mergers & acquisitions advisory firm BAYCAP for the IAM/IC transaction, and by law firm Herbert Smith and consulting firms Rothschild and Ricol Lasteyrie Corporate Finance for the IPM transaction.
ABOUT ICADE
The text of this press release is available on the Icade website: www.icade.fr.
| CONTACTS | Guillaume Tessler, Head of financial communication and investor relations |
Charlotte Pajaud-Blanchard, Press relations manager |
|---|---|---|
| Tel: +33 (0)1 41 57 71 61 [email protected] |
Tel: +33 (0)1 41 57 71 19 [email protected] |
As a French listed real estate investment company (SIIC) belonging to the Caisse des Dépôts Group, Icade is a major player in Greater Paris and territorial development. Icade is a key integrated property player able to provide comprehensive, sustainable and innovative solutions that are tailored to customer needs and to the challenges of tomorrow's cities. As at 30 June 2016, it recorded EPRA Earnings of €136.1 million, a net current cash flow of €145.9 million and an EPRA triple net asset value (NNNAV) of €5,473.6 million, i.e. €74.2 per share.