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BRIEF-Icade to buy controlling stake in ANF Immobilier, aims full buyout later
October 11, 2017 / 5:42 AM / in 8 days

BRIEF-Icade to buy controlling stake in ANF Immobilier, aims full buyout later

Oct 11 (Reuters) - Icade/ANF Immobilier /Eurazeo:

* Icade signs agreement to buy Eurazeo’s controlling interest in ANF Immobilier

* To buy Eurazeo’s controlling interest in ANF Immobilier for €22.15 per ANF Immobilier share (i.e. a total price of about €213 million for the stake).

* Once the acquisition has been completed, Icade will own approximately 50.5% of the share capital and 50.2% of the voting rights1 in ANF Immobilier

* Acquisition of the controlling interest will be followed, in November 2017, by Icade’s filing a mandatory public tender offer for €22.15 per share, on the remaining shares making up ANF Immobilier’s capital

* Icade will fund this deal through debt and cash on hand

* Transaction will have a maximum impact of about +3% on Icade’s loan-to-value (LTV) ratio, which stood at 39.4% as of June 30, 2017

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