Eurosic joint ventureFoncière de Paris and

Overview:

• Real estate investment company Eurosic successfully completed a voluntary tender offer for office acquisition and leasing company Foncière de Paris, representing 79% of the share capital. 
• Once finalised the resulting group will rank among the largest in the French commercial real estate sector, with more than €5 billion in combined assets. 
• Eurosic acquired 22.7% of the shares from the Allianz Group, its entire stake, at €145 per share. 
• The company also entered a share purchase agreement with Generali Group to acquire its 3.9% stake. 
• The remaining 52.5% of the shares came in the form of exchange offers with Covéa, ACM and La Tricogne, and a cash offer to Le Conservateur. 
• Eurosic raised €250 million via a credit facility to fund the cash acquisition, arranged by BNP Paribas and Crédit Agricole CIB. 

John Crabb - Journalist