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Gecina wins antitrust approval for Eurosic takeover

Gecina received the green light from the French antitrust authorities for its takeover of Eurosic.

Gecina expects to complete the acquisition of 85.3% of Eurosic's capital from its six main shareholders by the end of August. Thereafter, it will submit a public takeover offer in accordance with stock market regulations for all the Eurosic securities it does not own by then.

Gecina noted that Eurosic's main shareholders have committed to tender their remaining securities for the offer, reflecting 9.5% of the capital.

The company also said that on July 26, Eurosic's board approved a report from independent expert Ledouble that confirmed that the sale of certain Eurosic assets to Batipart is fair to Eurosic shareholders. The portfolio being sold includes leisure, healthcare and hotel assets and was deemed not strategic for Gecina.

Gecina expects to become the fourth largest real estate group in Europe following the takeover.