The Qatari investment fund Dubai International Capital (DIC) has become the third-largest shareholder in French REIT Société Foncière Lyonnaise with the purchase of an 8.55% stake in the company.
The Qatari investment fund Dubai International Capital (DIC) has become the third-largest shareholder in French REIT Société Foncière Lyonnaise with the purchase of an 8.55% stake in the company.
DIC currently holds nearly four million shares in the Paris-listed landlord, representing a value of around €150 mln.
SFL, which owns an office and retail portfolio located largely in the central business district of Paris, is controlled by Spanish property group Colonial with a 53% interest. Colonial said earlier this month that is had shelved plans to sell off its stake in the French subsidiary.
Bank Crédit Agricole owns a further 14% in SFL, according to the company's annual report.
SFL owns assets valued at €3.8 bn and has a market cap of €1.8 bn.
