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REFILE-PRESS RELEASE-Gecina appeals AMF ruling on Foncière de Paris
August 22, 2016 / 10:41 AM / a year ago

REFILE-PRESS RELEASE-Gecina appeals AMF ruling on Foncière de Paris

(Corrects typo in headline)

Aug 22 (Reuters) - By letter dated 29th July 2016, Gecina had requested from the French financial markets authority (AMF) the withdrawal of the compliance statement (décision de conformité) granted on 26th April 2016 to Eurosic’s proposed tender offer on Foncière de Paris’ securities. Gecina had notably required the AMF to rule out that the share tender agreements involving certain shareholders of Foncière de Paris, which were entered into in connection with Eurosic’s offer, have in fact proven to be irrevocable, therefore depriving Foncière de Paris’ other shareholders from any possible choice, in contradiction with the right for any bidder to make offers and counteroffers. On 12th August 2016, the AMF notified Gecina that its request was rejected.

Gecina considers that all necessary measures to ensure compliance with French public offerings regulations and more particularly the principles of equal treatment, transparency and fair competition shall be taken. Gecina’s offer is indeed financially more attractive on its three branches, and reflects in particular a premium of nearly 10% on its cash and share components, compared to Eurosic’s offer. Gecina has therefore filed today an appeal against this decision with the Court of Appeal (Cour d‘Appel) of Paris. Gecina has also asked the AMF to extend the closing date of the offers until the final ruling of the Court of Appeal. (Paris newsroom, email; +33 1 4949 5452)

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