Hypo Real Estate Bank International announces that it has provided a €59 million acquisition financing facility for Artemis, a joint venture between Shaftesbury and UBS Continental Property Fund, to acquire Docks Lyonnais, a real estate company listed on the Euronext. The transaction closed on 20th October 2005.
Headquartes Hypo Real Estate Bank, Munich.
The funding is used to acquire 75% of Docks Lyonnais from the controlling shareholders, and finance the Public Tender Offer.
Docks Lyonnais is a Euronext listed property company with assets mostly located in Lyon. Artemis' strategy is to convert Docks Lyonnais into a high dividend yielding SIIC, and to significantly and rapidly grow the Company.
Commenting, Harin Thaker, CEO - Europe, said: "I am delighted that Hypo Real Estate Bank International was selected to work with Artemis on this project, which reaffirms our abilities in pan-European financing, and highlights our place at the centre of the European property industry, including in the listed sector."
Source: Hypo Real Estate