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Vitura — M&A Activity 2009
Dec 7, 2009
1756_rns_2009-12-07_76fa343a-d149-42fe-b858-6ac595f10dee.pdf
M&A Activity
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Press Release
Paris, December 7th, 2009
Financial Information
Objective achieved: compliance with SIIC regime
Today, the main shareholder of CeGeREAL, Commerz Real, has sold through an off-market block transaction, to a foreign private investor a block of shares representing 7% of the share capital and voting rights of the company. This transaction thus allows Commerz Real to reduce its stake below 60% and CeGeREAL to keep its SIIC status.
Commerz Real declares that it is not acting in concert with the above-mentioned investor.
As a reminder, the SIIC regime imposes on each shareholder or shareholder group, acting alone or in concert, to own less than 60% in a SIIC company by the end of this year. In case of non compliance as of January 1st, 2010, the company would have incurred either the temporary loss of its fiscal transparency (in case of regularisation during the fiscal year 2010), or the permanent exit from the regime.
Based on the success of this compliance process in a demanding financial context, CeGeREAL intends to address its growth projects as of 2010 and reminds that the stake held by Commerz Real of less than 60%, maximum stake imposed by the law, should naturally protect minority shareholders from being diluted.
About CeGeREAL
CeGeREAL, which opted for the French SIIC tax regime (Sociétés d'Investissements Immobiliers Cotées) is a real estate company that specialises in the management of prime office buildings.
The Company's assets consist of three significant properties located in the inner suburbs of Paris. As of June 30 2009, their estimated total value, as determined by the independent appraiser CB Richard Ellis Valuation, is approximately €848 million (excluding duties).
Euronext Paris- FR0010309096 – CGR
SBF 250 - Indice IEIF "SIIC France"
Press Contact
Publicis Consultants Stéphanie Binet / +33 (0)1 57 32 85 50 / [email protected]
Financial communications
Publicis Consultants Antoine Denry / +33 (0)1 57 32 85 87 / [email protected]