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The competition Authority authorizes the approximation of Gecina with Eurosic

The land Gecina announced, on August 8, 2017, have got the green light from the competition Authority to buy its competitor Eurosic, as well as the approval of the board of directors. Details.
The redemption of Eurosic by Gecina is accurate. In a press release, dated August 8, 2017, the French property Gecina has announced that, having received the authorisation of the competition Authority in view of his amicable reconciliation with Eurosic. In parallel, in the same release, the board of directors of Eurosic has confirmed «unanimously support the transaction.»

 

As a result, Gecina intends to take effective control of Eurosic by the end of August 2017 by purchasing approximately 85 % of the group, with key shareholders. It will then be a process of public purchase and exchange to recover the rest of the songs in Eurosic.

Objective : to become the fourth land european with a heritage of 19.3 billion euros

By absorbing its rival, is valued 3.3 billion euros — an operation announced in June 2017 — Gecina wishes to become the fourth tenure european, with total assets of 19.3 billion euros and be the first land offices with 15.5 billion euros.
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  • Gecina considers that its offer is sufficient to redeem the Land of Paris
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«This major operation is in perfect adequacy with its strategy of value creation in the overall performance, and constitutes a significant acceleration of the development of Gecina in reinforcing its positioning of office specialist city of Paris, the first real-estate market in continental Europe», concluded the French property in the same press release.

 

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