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Icade wraps up disposal of services division

Icade said that it completed the divestment of itsservices division as part of its renewed focus on its core property investmentand development businesses.

Terms of the divestments, announced during the company's first-half earningsresults in July, were not disclosed.

On Sept. 30, Icade sold Icade Asset Management and IcadeConseil to Colliers International Group, and Icade Property Management was soldto Foncia Group.

MBA Moisand Boutin & Associates and BAYCAP advised Icadeon the Icade Asset/Icade Conseil deal. Herbert Smith, Rothschild and RicolLasteyrie Corporate Finance advised on the Icade Property Managementtransaction, according to a statement.