The Züblin Immobilien Group is aiming to achieve the status of a tax-efficient Real Estate Investment Trust (Société d'Investissements Immobiliers Cotée - SIIC) for its French subsidiary, Züblin Immobilière France SA. To this end, Züblin Immobilière France SA is to be listed on Euronext in Paris and a minority of the shares will be placed in the public. A local team is being set up in order to develop the French portfolio further. Pierre Essig has been appointed Managing Director of Züblin Immobilière France SA.
Planned listing of Züblin Immobilière France SA on Euronext
The Züblin Immobilien Group is aiming to achieve the status of a tax-efficient REIT (Real Estate Investment Trust), termed a Société d'Investissements Immobiliers Cotée (SIIC) in France, for its French subsidiary Züblin Immobilière France SA. To this end, Züblin Immobilière France SA is to be listed on Euronext in Paris and a minority of the shares will be placed in the public. The document de base has been submitted for examination to the responsible French financial markets authority, the Autorité des marchés financiers (AMF), in Paris, and has already been approved.
Local management set up
With regard to the aforementioned transactions as well as the expansion of operating activities of the French subsidiary, Pierre Essig has been appointed Managing Director of Züblin Immobilière France SA. In recent years, Pierre Essig has assisted with numerous merger and acquisition projects in France in the area of real estate at Deutsche Bank and Société Générale. Given this experience, he will make a major contribution to expanding the business of Züblin Immobilière France SA in future.
Aim to expand the French portfolio
By taking this measure, Züblin Immobilière France SA is looking to expand in France. Over the coming 18 months, investment of EUR 100 million is planned, a figure which is to rise to EUR 300 million in the medium-term. The next 5 to 7 years should see an annual yield of 10 percent with a maximum debt ratio of 70 percent.
Source: Züblin
