Edition:
United States

Colonial Buys 22.2 Pct Stake In SFL For 718 Mln Euros


Tuesday, 16 Oct 2018 01:47am EDT 

Oct 16 (Reuters) - Inmobiliaria Colonial SOCIMI SA ::SAID ON MONDAY IT BOUGHT A 22.2 PERCENT STAKE IN SOCIETE FONCIERE LYONNAISE (SFL) <<>> FROM QATAR INVESTMENT AUTHORITY (QIA).INVESTMENT VALUE AMOUNTS TO 718 MILLION EUROS.AROUND A QUARTER OF THE SUM CORRESPONDS TO CASH PAYMENT.MAJOR PART OF DEAL IS CARRIED OUT THROUGH A NON-CASH CAPITAL INCREASE FULLY UNDERWRITTEN BY QIA.AVERAGE PRICE FOR SFL IS OF 69.6 EUROS PER SHARE, WHICH IMPLIES A 19 PERCENT DISCOUNT ON LAST REPORTED NAV OF SFL.TO INCREASE ITS CAPITAL BY 53.5 MILLION SHARES, THAT IS 11.8 PERCENT OF THE CURRENT CAPITAL.COLONIAL INCREASES ITS STAKE IN SFL TO 81 PERCENT.DEAL WILL BRING +4 PERCENT INCREASE IN NET ASSET VALUE PER SHARE FOR COLONIAL, THAT IS 9.44 EUROS NAV PRO-FORMA . 

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