The Luxembourg fund Orion III European 3 has acquired over 3 million shares, representing a 7.25% stake in the French SIIC Societe Fonciere Lyonnaise (SFL). As a result, the company complies now with the French SIICs' shareholding limit of 60%. Orion III European 3 is managed by the European real estate investment firm Orion Capital Managers.
The Luxembourg fund Orion III European 3 has acquired over 3 million shares, representing a 7.25% stake in the French SIIC Societe Fonciere Lyonnaise (SFL). As a result, the company complies now with the French SIICs' shareholding limit of 60%. Orion III European 3 is managed by the European real estate investment firm Orion Capital Managers.
SFL's majority shareholder, the Spanish property firm Colonial, has reduced its stake from 80% to arond 53% over the last month by giving buy options to its creditor banks for a 31% interest in SFL. The capital will be used to pay down its EUR 7 bn of debt.
