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4-Traders Homepage  >  Equities  >  Euronext Paris  >  ICADE    ICAD   FR0000035081

ICADE (ICAD)

Delayed Quote. Delayed  - 04/29 05:36:19 pm
68.75 EUR   +0.41%
04/26 ICADE : Reference document 2015
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ICADE : Opening of the share capital of Icade SantÚ

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04/12/2012 | 08:41am CEST

PRESS RELEASE Paris 11 April 2012

Opening of the share capital of Icade Santé Icade Santé, a subsidiary of Icade specialised in investment in healthcare real estate, is increasing its share capital by €250 million with a reserved capital increase to three institutional investors led primarily by Crédit Agricole Assurances and BNP Paribas Cardif. Each insurer has invested its share of the funds through its own OPCI vehicle approved to this end.

Thanks to an increased capital base, Icade Santé will pursue its development as the leading property company serving healthcare operators. As the current leader in its field with a

44 facilities portfolio of more than €1.3 billion value, Icade Santé benefits from a diversified rental base with 6 partner operators and a dedicated team with widely recognised know-how.

This operation will enable Icade to pursue its investments and acquisitions of healthcare real estate assets while keeping the contribution of this asset class to its cash flow unchanged. At the end of this operation, Icade will hold 69% of the share capital of its subsidiary.

As for Crédit Agricole Assurances, this operation constitutes a transaction with a high potential enhanced by a partnership with a healthcare real estate specialist and will thus enable it to pursue the diversification strategy of its portfolios into real estate investments in operational properties such as clinics and hotels.

About Crédit Agricole Assurances

Number one for bancassurance in Europe and number two for life insurance in France based on the amount of premiums collected, Crédit Agricole Assurances handles all the Group's French and foreign insurance activities. It comprises Predica, a personal insurer, Pacifica, specialised in non-life insurance, Caci for creditor insurance, the various international subsidiaries and Caagis for IT management and services, as well as Spirica and LifeSide Patrimoine, focused on life insurance for wealth management.

Key figures for the Crédit Agricole Assurances Group(at 31 December 2011)

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