{"id":3587,"date":"2015-07-31T12:43:38","date_gmt":"2015-07-31T10:43:38","guid":{"rendered":"https:\/\/twentytwo.com\/zublin-immobiliere-france-capital-increase-convertible-bond-issue-strengthening-of-operational-structure-refinancing-of-bank-debt-changes-in-governance\/"},"modified":"2024-01-18T14:26:23","modified_gmt":"2024-01-18T13:26:23","slug":"zublin-immobiliere-france-capital-increase-convertible-bond-issue-strengthening-of-operational-structure-refinancing-of-bank-debt-changes-in-governance","status":"publish","type":"post","link":"https:\/\/twentytwo.com\/en\/zublin-immobiliere-france-capital-increase-convertible-bond-issue-strengthening-of-operational-structure-refinancing-of-bank-debt-changes-in-governance\/","title":{"rendered":"Z\u00fcblin Immobili\u00e8re France: capital increase, convertible bond issue, strengthening of operational structure, refinancing of bank debt, changes in governance"},"content":{"rendered":"<h3>Real Estate Opportunities Fund I, an investment vehicle affiliated to TwentyTwo Real Estate and Massena Partners, becomes the largest shareholder<\/h3>\n<p>Capital increase and convertible bond issue for an aggregated amount of \u20ac32.3M<\/p>\n<p>As announced June 12, 2015 by Z\u00fcblin Immobili\u00e8re France, the company REOF Holding S\u00e0rl (subsidiary of Real Estate Opportunities Fund I) and the company TwentyTwo 1 Credit s\u00e0rl, respectively subscribed to a reserved capital increase of Z\u00fcblin Immobili\u00e8re France of \u20ac 11.5 million and to a reserved issue of bonds convertible into Z\u00fcblin Immobili\u00e8re France shares for \u20ac\u00a020.8 million.<\/p>\n<p>REOF Holding also acquired all the bonds redeemable in Z\u00fcblin Immobili\u00e8re France shares held by Lamesa Holding. REOF Holding now holds 50.1% of share capital and voting rights of Z\u00fcblin Immobili\u00e8re France (on an undiluted basis). The transaction has no impact on the SIIC regime.<\/p>\n<p>These transactions, which are described in the prospectus published July 22, 2015 (AMF visa 15-402) were authorized by the Annual General Shareholders Meeting on July 27, 2015.<\/p>\n<p><strong>New Mortgage loan for \u20ac132M<\/strong><\/p>\n<p>Concomitantly, Helaba bank has granted Z\u00fcblin Immobili\u00e8re France and its subsidiary Z\u00fcblin Immobili\u00e8re Paris Ouest 1 a mortgage loan of \u20ac 132 million for a period of 5 years. Existing bank debts have been fully reimbursed today.<\/p>\n<p><strong>Strengthening of the operational structure<\/strong><\/p>\n<p>The management of the real estate assets held by Z\u00fcblin Immobili\u00e8re France and its subsidiary Z\u00fcblin Immobili\u00e8re Paris Ouest 1 was assigned today to SCAPRIM Asset Management, a subsidiary of SCAPRIM SERVICES, the French real estate services arm of TwentyTwo Real Estate, also acting as advisor to Real Estate Opportunities Fund I on the transaction.<\/p>\n<p><strong>Changes in Governance<\/strong><\/p>\n<p>Anne Genot, Muriel Aubry, Philippe Couturier, Daniel Rigny and Alexander Gruca become members of the board of directors in replacement of Corinne Bourbon, Anna Samoletova, Vladislav Osipov, Yakov Tesis and Pierre Essig. Philippe Couturier was appointed chairman.of Z\u00fcblin Immobili\u00e8re France. Pierre Essig was confirmed in his position as CEO, non director.<\/p>\n<p>For more information regarding the profile of newly appointed directors please see below or visit the company web site: <strong><a style=\"color: #0563c1;\" href=\"http:\/\/www.zueblin.fr\/\">www.zueblin.fr<\/a><\/strong><\/p>\n<p>Following these changes, the governance of Z\u00fcblin Immobili\u00e8re France is organized as follows:<\/p>\n<p>Philippe CouturierChairman<\/p>\n<table width=\"400\">\n<tbody>\n<tr>\n<td width=\"200\"><strong>Board of directors<\/strong><\/td>\n<td width=\"200\"><\/td>\n<\/tr>\n<tr>\n<td width=\"200\">Daniel Rigny<\/td>\n<td width=\"200\">Director<\/td>\n<\/tr>\n<tr>\n<td width=\"200\">Anne Genot<\/td>\n<td width=\"200\">Director<\/td>\n<\/tr>\n<tr>\n<td width=\"200\">Iosif Bakaleynik<\/td>\n<td width=\"200\">Director<\/td>\n<\/tr>\n<tr>\n<td width=\"200\">Muriel Aubry<\/td>\n<td width=\"200\">Independent Director<\/td>\n<\/tr>\n<tr>\n<td width=\"200\">Alexandre Gruca<\/td>\n<td width=\"200\">Independent Director<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Audit Committee<\/strong><br \/>\nAlexandre Gruca\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Chairman<br \/>\nMuriel Aubry<br \/>\nAnne Genot<\/p>\n<p><strong>Nomination and Compensation Committee<\/strong><br \/>\nMuriel Aubry\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Chairman<br \/>\nAlexandre Gruca<br \/>\nIosif Bakaleynik<\/p>\n<p><strong>Management<\/strong><br \/>\nPierre Essig \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CEO<br \/>\nEric Berlizon\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0CFO<\/p>\n<table width=\"443\">\n<tbody>\n<tr>\n<td width=\"243\"><strong>Shareholders<\/strong><\/td>\n<td width=\"200\"><strong>% of voting rights<strong>[1]<\/strong><\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"243\">REOF Holding<\/td>\n<td width=\"200\">50.1%<\/td>\n<\/tr>\n<tr>\n<td width=\"243\">Z\u00fcblin Immobilien Holding AG<\/td>\n<td width=\"200\">33.5%<\/td>\n<\/tr>\n<tr>\n<td width=\"243\">Float<\/td>\n<td width=\"200\">16.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"243\">Directors and Management<\/td>\n<td width=\"200\">0.2%<\/td>\n<\/tr>\n<tr>\n<td width=\"243\">Treasury shares<\/td>\n<td width=\"200\">0.2%<\/td>\n<\/tr>\n<tr>\n<td width=\"243\">TOTAL<\/td>\n<td width=\"200\">100.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[1]Upon redemption of 2,500 bonds redeemable in action and conversion of 13,522,352 convertible bonds, REOF Holding and TwentyTwo Credit 1 together would own 74.2% of the share capital and the voting rights of ZIF. Provided that should these entities were to hold over 60% of the share capital and the voting rights, it being specified that in order to maintain the SIIC regime ZIF, a sale of shares would be made to third parties so that their aggregate ownership would remain below the threshold of 60%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real Estate Opportunities Fund I, an investment vehicle affiliated to TwentyTwo Real Estate and Massena Partners, becomes the largest shareholder<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,38],"tags":[],"class_list":{"0":"post-3587","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-2015-en","7":"category-news-en"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Z\u00fcblin Immobili\u00e8re France: capital increase, convertible bond issue, strengthening of operational structure, refinancing of bank debt, changes in governance - 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