The General Electric Group has sold around 1.14 million shares of French real estate group Fonciere des Regions. This represents 4% of the outstanding share capital following the merger of Fonciere des Regions with Bali Investissement. The sale reduces General Electric's interest in the company to 12%. 'It will increase the free float of Fonciere des Regions and enhance the liquidity of its shares,' General Electric said. BNP Parisbas acted as sole bookrunner in the private placement.
The General Electric Group has sold around 1.14 million shares of French real estate group Fonciere des Regions. This represents 4% of the outstanding share capital following the merger of Fonciere des Regions with Bali Investissement. The sale reduces General Electric's interest in the company to 12%. 'It will increase the free float of Fonciere des Regions and enhance the liquidity of its shares,' General Electric said. BNP Parisbas acted as sole bookrunner in the private placement.
Fonciere des Regions concentrates on development of underground space for car parks and shopping centres. Bail Investissement is a listed property investment company specialising in logistics property, light industrial premises and offices buildings.
