GE Commercial Finance Real Estate, announces the filing, by its subsidiary GE Real Estate Investissement France (GEREIF), of a plan for a public buy-out offer followed by a mandatory squeeze-out aimed at purchasing Sophia shares at €44 per share.
At the completion of the public offer for Sophia, which opened in December 2003, GEREIF had obtained 88.82% of the shares and 96.78% of the voting rights of the company.
The proposed price of €44 per share represents a premium of 7.3% to the price of €41 offered by GEREIF at the time of the public offer.
In accordance with AMF regulations, the elements leading to the determination of the offer price were assessed by an independent, AMF-approved, expert. This expert confirmed that the offer of €44 per share was equitable.
'The press release approved in accordance with article 231-17 of Autorité des Marchés Fincancier’s General Regulations has been released and is available on the AMF website (www.amf-france.org). In accordance with article 231-35 of the AMF’s General Regulations this document was presented to the AMF before its publication”.
Source: GE Real Estate France