Inmobiliaria Colonial SA &
Investment Corp of Dubai{ICD} | Update Date: 03/17/08 |
| Date Announced: 01/31/08 |
Value (million $USD): 15.21 billion U.S. Dollar
9.92 billion EURO |
|
| Status: Pending | |
| TRANSACTION DETAILS |
|---|
| Date Announced | 01/31/08 | | |
| Date Originally Announced | 01/31/08 | | |
| Format | Merger | Acquisition techniques | Going Private; Mandatory Offering |
| Attitude | Friendly | Agency | n/a |
| Value | 15.21 billion U.S. Dollar
9.92 billion EURO | Advisor Fees | n/a |
| SYNOPSIS |
|---|
| SPAIN - United Arab Emirates state-owned Investment Corp of Dubai {ICD} agreed to launch a mandatory tender offer to acquire the entire ordinary share capital of Inmobiliaria Colonial SA (IC), a Barcelona-based real estate development firm, for 9.916 bil euros ($15.213 bil US). The consideration was to consist of 1.19 euros ($1.826) in cash per share, or a total value of 1.947 bil euros ($2.988 bil) and the assumption of 7.969 bil euros ($12.226 bil) in liabilities. The transaction was to include IC's rental business in Spain and France. Additionally, ICD planned to acquire a 15.5% stake in Societe Fonciere Lyonnaise SA. Previously, IC agreed to spinoff its residential real estate development and land business, to its shareholders. Originally, ICD planned to launch a tender offer to acquire a 50.1% interest, or 819.863 mil ordinary shares, in IC, and subsequently launch a mandatory tender offer to acquire the remaining 49.9% stake, or 816.59 mil ordinary shares, which it did not already own, in IC. ICD offered a choice of 2.25 euros (12.488 dirham/$3.401) in debt securities or 1.85 euros (10.268 dirham/$2.797) in cash. |
| TARGET |
|---|
| Name | Inmobiliaria Colonial SA (Madrid : COL) |
| Industries | Real estate agents and managers |
| City | Barcelona |
| State | n/a |
| Nation | Spain |
| Incorporated in | n/a |
| Public Status | Public |
| Business Description | Inmobiliaria Colonial SA, located in Barcelona, Spain, is a real estate development firm focusing on the office-space segment in central business districts in three of the most important markets in the European area - Paris, Madrid and Barcelona. It also develops its activities in the business of residential developments, with a quality land bank located in the highest demand markets in Spain. |
| Advisors | Citi; Credit Suisse Group |
| Target Sales | 892.6 million U.S. Dollar |
|
| ACQUIROR |
|---|
| Name | Investment Corp of Dubai{ICD} |
| Industries | n/a |
| City | Dubai |
| State | n/a |
| Nation | Utd Arab Em |
| Incorporated in | n/a |
| Public Status | Government |
| Business Description | Investment Corp of Dubai {ICD}, headquartered in Dubai, United Arab Emirates, is an investment company focusing on the financial, transportation, utilities and energy, industrial, real estate and leisure sectors. The company was founded in 2006. |
| Advisors | JP Morgan & Co Inc; Morgan Stanley |
| Acquiror Sales | n/a |
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