Foncière des Murs has announced the completion of a capital increase with preferential subscription rights. The final gross proceeds amount to EUR 97.4 mln, which corresponds to the issue of 6.5 million new shares.
Foncière des Murs has announced the completion of a capital increase with preferential subscription rights. The final gross proceeds amount to EUR 97.4 mln, which corresponds to the issue of 6.5 million new shares.
In accordance with their commitment, the main shareholders of Foncière des Murs - Foncière des Régions, Prédica, Pacifica, Generali Vie, Cardif Assurance Vie and ACM Vie - subscribed in proportion to their current shareholding. As a consequence, their respective stake - accounting for 90.37% of the outstanding share capital - remains unchanged.
The proceeds from the capital increase will be used primarily to partly finance the purchase of the hotels run by the B&B Group as well as the deal recently signed with Accor and carried out in partnership with Prédica. It will also increase Foncière des Murs´ financial flexibility.
Foncière des Murs, a subsidiary of Foncière des Régions, is a French listed real estate investment trust (SIIC) specialised in business premises, especially in the hotel, restaurant, health and leisure sectors.