In the interests of its shareholders, SFL has decided to withdraw its alternative Cash and Exchange Public Tender Offer for Sophia. Consequently, SFL will not attempt to top the competitive bid made on 3 November by GEREIF. SFL extends its thanks to all the shareholders, partners, investors and analysts who approved and supported its project.
SFL plans to leverage the revival of investor interest in property stocks by creating new organic or external growth opportunities on reasonable financial terms, in keeping with its aim of offering shareholders attractive yields.
The Group will continue to focus on the Paris commercial property market, and will keep up its endeavours to extract the maximum value from its portfolio. Following the election for the SIIC tax regime, effective from 2003, SFL will be able to respond even more effectively to the expectations of investors in property stocks, by delivering significantly higher profits benefiting all of its shareholders.
Source: SociÃÂ©tÃÂ© FonciÃÂ¨re Lyonnaise