Key Developments: Gecina SA (GFCP.PA)
98.19EUR
11:35am EDT
€-1.49 (-1.49%)
€99.68
€99.68
€99.78
€97.60
27,346
44,209
€99.96
€66.84
Latest Key Developments (Source: Significant Developments)
Gecina SA Issues EUR 300 Million Bond-L'Agefi Quotidien
L'Agefi Quotidien announced that Gecina SA has issued a EUR 300 million bond with a 10-year maturity and a coupon of 2.875%. Full Article
Gecina SA Announces Share Repurchase Program
Gecina SA announced that shareholders at its annual general meeting have approved a share repurchase program to buy back shares at a maximum price of EUR 150 per share, to own up to 10% of its capital. As of March 31, 2013, the Company already owns 3.18% of its share capital. The program will run until October 18, 2014. Full Article
Gecina SA Confirms FY 2013 Net Recurrent Income Per Share Guidance
Gecina SA announced that it confirms its forecasts for net recurrent income per share to be stable in fiscal year 2013. Full Article
Gecina SA Appoints Mr.Philippe Depoux as Chief Executive Officer
Gecina SA announced at the Board meeting on April 17, 2013 the Company's Directors decided to appoint Mr. Philippe Depoux as Chief Executive Officer from June 3, 2013. In connection with the separation of the offices for the Chairman and Chief Executive Officer to be made from this date, the Board of Directors decided to confirm Mr. Bernard Michel's position as Chairman of the Board of Directors, which he has held since February 2010. Mr. Bernard Michel has also served as Gecina SA's Chief Executive Officer since October 2011. Full Article
Gecina SA's Gecimed Sells Four Clinics for Nearly EUR 80 Million
Gecina SA announced that Gecimed, its dedicated healthcare real estate subsidiary, finalized the sale of a portfolio of four clinics operated by Generale de Sante, including three short-stay facilities and a psychiatric unit, to a healthcare real estate UCI managed by BNP Paribas REIM France. These assets represent a combined total of over 720 beds and spaces and 53,800 square meters. This transaction amounts to EUR 80 million (including duties). In this way, Gecimed is launching its asset rotation policy, while reducing its exposure to short-stay facilities, specialized in medicine, surgery and obstetrics (MSO). Full Article
Gecina SA Acquires Mirabeau Tower from Aberdeen
Gecina SA announced that on March 19, 2013 it has acquired the Mirabeau Tower from Aberdeen, acting on behalf of the German fund DEGI International, for a price of almost EUR 186 million euros excluding duties. The building is 88% occupied, mainly let to public sector entities with an average residual term of close to six years. The immediate net yield on this investment is just over 7%, with this figure to climb above 8% when the occupancy rate reaches 100%. The Mirabeau Tower, designed by the architects Le Maresquier & Heckly and built in 1972, offers a gross leasable area of almost 35,000 square meters, split between 18 floors, in addition to 379 parking spaces. On this operation, the Company was advised by the notary's office Wargny Katz, the law firm Fairway and the research office Nerco; the seller was advised by the notary's office Le Breton et Associes, L'Etoile Properties Services and BNP Paribas Real Estate under a co-exclusive listing agreement with Jones Lang LaSalle. Full Article
Gecina SA's Gecimed Acquires Clinic Development Project from Capio
Gecina SA announced that its subsidiary Gecimed acquired a clinic development project in Bayonne from Capio on March 11, 2013. This operation will represent an investment of almost EUR 70 million for Gecimed. A firm commitment corresponding to 15 years of rental flows from delivery has been made with Capio, the tenant-operator, generating a triple net yield of 6.60%. The construction phase will begin in March 2013, with delivery scheduled for the third quarter of 2015. The new facility will have the capacity for 255 beds and spaces, spread over almost 30,000 sq.m. With the construction of this fourth project, following the private hospitals in Le Havre, Gien and Annemasse for Generale de Sante, Gecimed will own 76 short and long-stay facilities, representing a total of 8,507 beds. On this operation, Gecimed has been advised by the law firm De Pardieu Brocas Maffei, Etude Oudot et Associes and KPMG, while Capio has been advised by the law firm Fairway, as well as Easton for financials and Etude Lyon Bugeaud for notary-related aspects. Full Article
Gecina SA Proposes FY 2012 Dividend Payment
Gecina SA announced that it will propose a dividend of EUR 4.4 per share for the fiscal year 2012. The proposal will be submitted at the General Meeting on April 18, 2013. Full Article
Gecina SA Announces Gilles Bonnier's Resignation from His Position as Chief Financial Officer
Gecina SA announced that Mr. Gilles Bonnier has informed the board of directors of his intention to leave Gecina and stand down from his position as Chief Financial Officer, which he was appointed to in October 2010. Full Article
Moody's Upgrades Gecina SA Ratings to Baa2-Reuters
Reuters reported that Moody's Investors Service has upgraded the senior unsecured long-term issuer rating of Gecina SA to Baa2 from Baa3. Concurrently, Moody's has upgraded the Company's senior unsecured domestic currency bond ratings to Baa2 from Baa3 and the provisional rating of its medium-term note (MTN) programme to (P)Baa2 from (P)Baa3. The outlook is stable. The agency justified its decision stating the Company's stronger operating performance, a commitment to a more prudent financial policy and improved liquidity. Full Article
Exclusive: Gecina to replace CEO with Generali executive - sources
PARIS - Property group Gecina plans to replace its current CEO Bernard Michel with Generali's Philippe Depoux, two sources familiar with the matter told Reuters, in the latest sign of upheaval at the French company.
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