A jointly-owned affiliate, managed by Blackstone, of real estate funds managed by Blackstone and of Ivanhoé Cambridge, both acting in concert, has reached an agreement to acquire, before 30 September 2014, from Metrovacesa, 4,350,000 shares representing 6.92% of Gecina’s share capital and voting rights.
In addition, an affiliate of Blackstone, has also agreed to purchase, 918,799 shares representing 1.46% of Gecina’s share capital and voting rights from Metrovacesa SA. This affiliate of Blackstone intends to transfer its rights and obligations for these shares to a third party to be identified.
These transactions remain subject to the fulfilment of certain conditions precedent in relation to the financial restructuring of Metrovacesa SA.
The concert comprised of Blackstone and Ivanhoé Cambridge currently holds 14,476,248 shares of Gecina, which represent 23.03% of Gecina’s share capital and voting rights. Having no intention to hold 30% or more of Gecina’s share capital and voting rights, it will, before the fulfilment of the conditions precedent, sell the appropriate number of shares if required.
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Founded in 1991, Blackstone’s real estate business is the largest real estate investment manager in the world, with US$81 billion of assets under management. Blackstone’s portfolio includes hotel, office, retail, industrial and residential properties in the U.S., Europe and Asia. Major holdings include: Hilton Worldwide, Equity Office Properties and Brixmor shopping centers.
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