Regulatory News:
On October 19, 2007, Mercialys (Paris:MERY) announced its intention to acquire five shopping centers from Vindemia, a wholly owned subsidiary of the Casino Group.
These five shopping centers comprise 127 shops and mid-sized specialty stores, representing a total surface of 28,700 sqm and gross rental income of Euro 5.3 million for 2007 and have been valued by independent appraisers at a total of Euro 77.3 million including transfer taxes.
Total investment for Mercialys would amount to Euro 73.3 million. As a leasing contract is in place on one of the shopping malls, Mercialys will pay a total of Euro 70.1 million net of debt still in force.
Mercialys should acquire in cash one of the five shopping centers based in Saint Benoit - La Réunion, on December 21, 2007.
On November 12, 2007, Mercialys Board of Directors approved the proposed acquisition of the four remaining shopping centers from Vindemia, and the exchange value to be applied to define the number of Mercialys newly issued shares to pay contributions of these shopping centers to Mercialys.
A multi criteria analysis has been conducted by the company to define the exchange value of Mercialys shares. Based on this analysis, Mercialys and Vindemia agreed on an exchange value for Mercialys shares of Euro 27 per share.
This acquisition of these five shopping centers will therefore be paid with 2,231,041 newly issued Mercialys shares and in cash for Euro 9.9 million.
Mercialys Board of Directors also agreed on the terms of the contribution contracts. These contributions and the resulting capital increase are subject to the approval of an extraordinary shareholders' meeting to be convened for this purpose on December 21, 2007. The Avis préalable de reunion will be published in the Bulletin des Annonces Légales Obligatoires on November 16, 2007.
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| -- January 23, 2008 (evening) | Revenues to December 31, 2007 |
About Mercialys
Mercialys, one of France's leading real estate companies, is solely active in commercial property. Rental revenue in 2006 came to Euro 82.3 million and net income, Group share, to Euro 60.5 million. It owns 160 properties with an estimated value of Euro 1.6 billion at June 30, 2007. Mercialys has benefited from "SIIC" tax status (REIT) since November 1, 2005 and has been listed on Eurolist by Euronext Paris, symbol MERY, since its initial public offering on October 12, 2005.
CAUTIONARY STATEMENT
This press release contains forward-looking statements about future events, trends, projects or targets.
These forward-looking statements are subject to identified and unidentified risks and uncertainties that could cause actual results to differ materially from the results anticipated in the forward-looking statements. Please refer to the Mercialys shelf registration document available at www.mercialys.com for the year to December 31, 2006 for more details regarding certain factors, risks and uncertainties that could affect Mercialys' business.
Mercialys makes no undertaking in any form to publish updates or adjustments to these forward-looking statements, nor to report new information, new future events or any other circumstance that might cause these statements to be revised.
