French SIIC Immobiliere Dassault is to carry out a EUR 26 mln capital increase to fund the acquisition of an office building at 127 avenue des Champs-Elysées in Paris. The company will issue roughly 1.7 million new shares at a price of EUR 15 per share. The subscription period runs from 22 November 22 until 3 December 2010.
French SIIC Immobiliere Dassault is to carry out a EUR 26 mln capital increase to fund the acquisition of an office building at 127 avenue des Champs-Elysées in Paris. The company will issue roughly 1.7 million new shares at a price of EUR 15 per share. The subscription period runs from 22 November 22 until 3 December 2010.
Dassault's main shareholders, the Dassault, Peugeot and Seydoux families have committed to participate in the operation by taking a share corresponding to their current interest in the company. The Seydoux group has also agreed to buy any other share which is not subscribed by the company's existing shareholders until a maximum of 15.8% of the newly-issued shares.
Dassault focuses on investment in office and residential properties in Paris. The company announced in September that it planned to buy an office building in the eighth arrondissement of the French capital for a total of EUR 90 mln. The acquisition substantially expands the company's portfolio consisting of nine properties valued at a total of EUR 186 mln.
