FIMALAC : New developments in the office real estate sector

Fimalac currently owns a large office complex in the Canary Wharf financial district of London, as well as two office buildings in Paris.

The Group has previously stated that it would consider other opportunities to acquire real estate in Paris or in other western capitals in order to pursue its diversification in this area.

In line with this strategy, Fimalac has just signed on April 16, 2016 a Sale and Purchase agreement to acquire an office building in a prime location of Manhattan, New York, for $525 million. This agreement was executed on an accelerated basis in view of other very competitive offers.

The Group is also in the process of completing the acquisition of a €106 million office building currently leased to its Webedia subsidiary in Levallois-Perret, a suburb of Paris.

These acquisitions should be completed in the coming weeks. The financing arrangements have not yet been decided but are expected to comprise a mix of cash and bank finance.

It is recalled that Fimalac has initiated a Share Buyback public Offer up to 1,700,000 shares representing 6.3% of its capital, at €101 (including dividend) per share. This Offer will run from April 15 to May 12, 2016.

Paris, April 18, 2016


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Source: FIMALAC via GlobeNewswire