Following the official result of the takeover bid by the Spanish company Metrovacesa for the French company Gecina (Euronext 100), Gecina will be removed from the Euronext 100 Index effective Tuesday 7 June 2005. In accordance with the rules of the Euronext 100 Index the removed company will not be replaced immediately, but at the next quarterly review (effective 1 July 2005). As of Tuesday 7 June 2005, the Euronext 100 Index will consist of 99 companies.
At the end of last week, Metrovacesa owned 68.54% of Gecina's outstanding shares. It is expected that Metrovacesa will soon announce how the fund will enlarge its capital in order to successfully take over Gecina. Metrovacesa needs at least 800 million.
Source: Euronext & Vastgoedmarkt