The Capri unit of French property developer Icade has increased its stake in French builder Opera Construction to 83.3% from 69.3%, after buying a 13.9% stake from Ste Privee de Gestion de Patrimoine. Icade Capri acquired a 69.3% stake in Opera Construction in April, and now plans to launch a public offer to buy out remaining minority shareholders at the same price of EUR 22 per share and EUR 1.20 per subscription right, Icade said. Opera Construction booked net profit of EUR 4 mln on sales of EUR 74 mln in 2006.
The Capri unit of French property developer Icade has increased its stake in French builder Opera Construction to 83.3% from 69.3%, after buying a 13.9% stake from Ste Privee de Gestion de Patrimoine. Icade Capri acquired a 69.3% stake in Opera Construction in April, and now plans to launch a public offer to buy out remaining minority shareholders at the same price of EUR 22 per share and EUR 1.20 per subscription right, Icade said. Opera Construction booked net profit of EUR 4 mln on sales of EUR 74 mln in 2006.
