{"id":3594,"date":"2015-06-12T10:52:53","date_gmt":"2015-06-12T08:52:53","guid":{"rendered":"https:\/\/twentytwo.com\/zublin-immobiliere-france-agreement-with-twentytwo-real-estate-and-massena-partners-to-strengthen-financial-and-operational-structures-of-the-company-subject-to-conditions-precedent\/"},"modified":"2024-01-18T14:32:13","modified_gmt":"2024-01-18T13:32:13","slug":"zublin-immobiliere-france-agreement-with-twentytwo-real-estate-and-massena-partners-to-strengthen-financial-and-operational-structures-of-the-company-subject-to-conditions-precedent","status":"publish","type":"post","link":"https:\/\/twentytwo.com\/en\/zublin-immobiliere-france-agreement-with-twentytwo-real-estate-and-massena-partners-to-strengthen-financial-and-operational-structures-of-the-company-subject-to-conditions-precedent\/","title":{"rendered":"Agreement with TwentyTwo Real Estate and Massena Partners to strengthen financial and operational structures of Z\u00fcblin Immobili\u00e8re France subject to conditions precedent"},"content":{"rendered":"

Shareholders Meeting convened on 27 July 2015<\/strong><\/p>\n

The new investors would invest \u20ac32.3 million in Z\u00fcblin Immobili\u00e8re France<\/strong><\/p>\n

Z\u00fcblin Immobili\u00e8re France and Z\u00fcblin Immobilien Holding AG, its current controlling shareholder, have signed today an investment agreement pursuant to which, investment entities advised by, and affiliated to, TwentyTwo Real Estate and Massena Partners would subscribe to a reserved capital increase of 11.5 million euros and a reserved convertible bond for a total amount of 20.8 million euros. The transaction would significantly strengthen the financial situation of Z\u00fcblin Immobili\u00e8re France by injecting 32.3 million euros of fresh capital, which would cover its financing needs over the next 30 months and reduce its bank indebtedness.<\/p>\n

Concurrently with the above mentioned subscriptions, the investors would buy from Z\u00fcblin Immobilien Holding AG its shareholder loan.<\/p>\n

The new investors would buy shares and mandatory convertible bonds owned by Lamesa Holding S.A.<\/strong><\/p>\n

Z\u00fcblin Immobili\u00e8re France has also been informed that the investors have separately entered into an agreement with Lamesa Holding S.A, by which it would buy its shares in Z\u00fcblin Immobili\u00e8re France, representing 11.8% of the share capital of the company. The investors would also buy all the bonds redeemable in shares of the company held by Lamesa Holding S.A.<\/p>\n

TwentyTwo Real Estate and Massena Partners via their jointly controlled investment vehicle would become new anchor shareholders of Z\u00fcblin Immobili\u00e8re France<\/strong><\/p>\n

Following these transactions, the investors would become the new anchor shareholders and would hold 50.1% of the share capital and voting rights of Z\u00fcblin Immobili\u00e8re France on an undiluted basis (74.3% on a fully diluted basis).<\/p>\n

These operations would not affect Z\u00fcblin Immobili\u00e8re France SIIC status.<\/p>\n

TwentyTwo Real Estate would also strengthen Z\u00fcblin Immobili\u00e8re France operational structure by making available the services of its subsidiary SCAPRIM SERVICES, a French professional asset & property manager, managing 6.5 billion euros of real estate properties in France.<\/p>\n

Conditions precedent to the completion of the transactions<\/strong><\/p>\n

The completion of these transactions is subject to certain conditions precedent, including:<\/p>\n