Affine acquires 64.22% shareholding in Compagnie Foncière Fideimur (FR)

Affine acquires from three shareholders a 64.22% shareholding in Compagnie Foncière Fideimur, a property company registered on the Marché Libre, which properties include 7 buildings in Paris' 8th arrondissement and other real estate assets in Paris, the Paris region, and other regions countrywide, accounting for 61,000 m², and valued at €150 million.

Through this acquisition and by replacing a financial shareholder, Affine intends to endorse the strategy defined by Fideimur's directors with a view to making it a property company specialising in Parisian real estate.

Fideimur has initiated an admission process on the Eurolist C of Euronext Paris, filed with the AMF on the 5th February 2007 under number 07-040. Fideimur plans a capital increase of around 520,000 shares. The purchase period began on the 7th February 2007. The company has revealed its intention to gain 'SIIC' status following this operation.

Affine intends to follow up this process, according to the details which will be specified on Tuesday 20th February following to AMF recommendations.

Source: Affine

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