The French property Gecina has taken control of its competitor Eurosic and holds 77% of its capital, said on Friday 11th of August 2017, the financial markets Authority (AMF).
Friday 11th of August 2017, the financial markets Authority (AMF) has not been slow to formalize its decision by allowing the land Gecina to take control of its competitor Eurosic. It will hold 77 % of its capital.
As a reminder, on August 8, 2017, Gecina had 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 had confirmed “unanimously support the transaction.”
Gecina will file a public share buyback offer, which terms will be detailed in a draft information note “which will be filed with the AMF no later than the
October 30, 2017″. In the case where the land would reach the regulatory threshold of 95% of the capital or of the voting rights, it notifies its intention to implement a squeeze-out procedure. “Gecina reserves the possibility to study a possible merger of Eurosic”, also states the opinion of the financial markets Authority.
- The competition Authority authorizes the approximation of Gecina with Eurosic
- Gecina landed its director-general
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.