ICADE : Opening of the share capital of Icade Santé
04/12/2012| 02:41am US/Eastern
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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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