Carmila: Potential Stake Increase in Galimmo SCA to 99.9%
01 Luglio 2024 - 7:00AM
Business Wire
Regulatory News:
On June 28, 2024, Carmila (Paris:CARM) granted to an entity
managed by Primonial REIM France a put option to sell its entire 7%
stake in Galimmo SCA, exercisable1 until July 30, 2024, for
approximately €27 million (that is €11.93 per share).
This agreement follows on from the agreement announced on July
12, 2023 for the acquisition of the direct and indirect stake held
by the controlling shareholders of Galimmo SCA (representing 93% of
the share capital and voting rights of Galimmo SCA), which should
be completed today and which will be communicated in a separate
announcement today.
In the event the put option is exercised, Carmila will own 99.9%
of the share capital of Galimmo SCA, representing a total
investment of €299 million, an average acquisition price of €9.22
per share and a 38% discount to the NDV EPRA NAV at December 31,
2023.
Carmila will file a tender offer in the coming weeks, followed –
in the event the put option is exercised – by a squeeze-out, for
the remaining shares in Galimmo SCA.
The tender offer price will depend on the implementation of a
squeeze-out. In any event, this tender offer price will not be
lower than €11.93 and will remain subject to the work of the
independent expert to be appointed by Galimmo SCA in accordance
with legal and regulatory provisions.
INVESTOR AGENDA
24 July 2024 (after market close): First half 2024
results 25 July 2024: First half 2024 results presentation
17 October 2024 (after market close): Financial information
for the third quarter 2024
ABOUT CARMILA
As the third-largest listed owner of commercial property in
Europe, Carmila was founded by Carrefour and large institutional
investors in order to enhance the value of shopping centres
adjoining Carrefour hypermarkets in France, Spain and Italy. At 31
December 2023, its portfolio was valued at €5.9 billion and is made
up of 201 shopping centres, with leading positions in their
catchment areas.
Carmila is listed on Euronext-Paris Compartment A under the
symbol CARM. It benefits from the tax regime for French real estate
investment trusts (“SIIC”). Carmila has been a member of the SBF
120 since 20 June 2022.
Important notice
Some of the statements contained in this document are not
historical facts but rather statements of future expectations,
estimates and other forward-looking statements based on
management’s beliefs. These statements reflect such views and
assumptions prevailing as of the date of the statements and involve
known and unknown risks and uncertainties that could cause future
results, performance or events to differ materially from those
expressed or implied in such statements. Please refer to the most
recent Universal Registration Document filed in French by Carmila
with the Autorité des marchés financiers for additional information
in relation to such factors, risks and uncertainties. Carmila has
no intention and is under no obligation to update or review the
forward-looking statements referred to above. Consequently, Carmila
accepts no liability for any consequences arising from the use of
any of the above statements.
This press release is available in the
“Regulatory Information” section of Carmila’s Finance webpage:
https://www.carmila.com/en/finance/regulatory-information/
1 Subject to the condition precedent that Carmila acquires the
entire stake held by the controlling shareholders of Galimmo SCA,
representing 93% of the share capital and voting rights.
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version on businesswire.com: https://www.businesswire.com/news/home/20240630306724/en/
INVESTOR AND ANALYST CONTACT Jonathan Kirk – Head of Investor
Relations jonathan_kirk@carmila.com +33 6 31 71 83 98
PRESS CONTACT Elodie Arcayna – Corporate Communications Director
elodie_arcayna@carmila.com +33 7 86 54 40 10
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