Exclusive agreement to acquire

Exclusive agreement to acquire

a EUR346 million office portfolio 

Eurosic and GE Capital Real Estate France have entered today into an exclusivity agreement until July 31, 2011 to negotiate the acquisition in cash of an office portfolio valued at EUR346 million including transfer duties. 

This portfolio is made up primarily of recent significant-sized office buildings located in major cities throughout France (Toulouse, Nantes, Lyon, etc.) and in the first ring of Paris. 

This acquisition would be financed for half of the total amount through a capital increase with preferential subscription rights maintained and a subscription price that will be no lower than the price for the voluntary public take over bid announced by Monroe, the Batipart subsidiary, i.e. EUR34.30 per share, and for the other half by a bank loan. 

The acquisition of the portfolio would represent the first stage in Eurosic's new development following the change in its shareholding structure on June 15th, and would make it possible to grow the company's portfolio by around 25% to over EUR1.7 billion, further strengthening its positioning on office real estate in France 





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