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Gecina to implement squeeze-out, delist Eurosic shares

Gecina said it now owns 99.75% of Eurosic's diluted capital following an alternative public tender and exchange offer filed Sept. 19.

Gecina offered to acquire all of Eurosic's shares and obligations subordonnées remboursables en actions, or OSRA, that Gecina did not already hold after gaining 85.4% ownership of Eurosic's diluted capital from a takeover deal finalized in August. Holders tendered 8,957,495 shares and 364,852 OSRA in the offer, representing in total 14.40% of Eurosic's diluted capital.

Gecina will subsequently implement a squeeze-out and delist Eurosic from Euronext Paris by the end of October, and it has also applied to suspend trading of Eurosic's shares and OSRA after the Oct. 16 market close.