Gecina: fourth largest European real estate group following the friendly business combination with Eurosic, with 19.3 billion euros of assets.
Europe’s leading real estate group for offices, with 15.3 billion euros of assets.
This operation will be accretive of 10% on recurrent net income per share on a full year basis.
This fully financed acquisition will make it possible to increase the free float to around 55%.
Gecina announces, following the unanimous approval of its Board of Directors, its proposed acquisition of all the securities of Eurosic. This friendly operation between Gecina and Eurosic is supported by Eurosic’s six main shareholders, representing 94.8% of its capital, under firm agreements signed to sell blocks of securities and undertakings to tender securities for the mandatory public offer that will be submitted once the blocks have been acquired. This acquisition is in line with the Group’s total return strategy. Eurosic’s integration will be facilitated by Gecina’s new organization, which will be implemented starting from July.
Source : Company