Unibail, the French-listed property company, and the Paris Chamber of Commerce and Industry (CCIP) have signed an exclusivity agreement to explore a potential merger of their operations in the convention-exhibition sector.
Unibail, the French-listed property company, and the Paris Chamber of Commerce and Industry (CCIP) have signed an exclusivity agreement to explore a potential merger of their operations in the convention-exhibition sector.
The merger would involve both parties taking a 50% stake in several major exhibition centres in Paris. CCIP would include its Palais des Congrès in Paris, Parc d’Expositions in Paris-Nord-Villepinte, the Palais des Congrès in Versailles, Parc des Expositions of Paris Le Bourget and Comexpo. Unibail's contribution would be the Paris-Expo (Espace Champerret, CNIT La Défense, Carrousel du Louvre, Espace Grande Arche, Porte de Versailles and Palais des
Sports) and the Exposium. The parties said the objective of any merger would be to provide Paris and the region with enhanced resources and to create a European leader in the convention-exhibition sector.
Both sides are striving to finalise an agreement before the end of the first half of 2007. Unibail is a property company engaged in the office, shopping centre and exhibition and convention sectors in and around Paris.
