Eurazeo acquires Rue ImperialeÂ's real estate portfolio

The Supervisory Board of Eurazeo, which met on 5 and 7 March 2004, has approved the terms of the merger between Rue Impériale and Eurazeo, as well as terms relating to assets being contributed by Crédit Agricole to Eurazeo. The merger of Rue Impériale and Eurazeo is the final step in the simplification of the structure of the group initiated in 2000 with the merger of Azeo and Eurafrance. This was subsequently followed by the merger of Rue Impériale de Lyon and Immobilière Marseillaise in 2002. Eurazeo will be the surviving entity. The exchange ratio retained (approved by the Boards of Rue Impériale and Eurazeo), based on a multi-criteria analysis, is 2.8125 Eurazeo shares for one Rue Impériale share.

Simultaneously with the merger, the Crédit Agricole group will contribute certain assets (held within its UI division) to the new entity: its 12.6% stake in Fraikin (of which Eurazeo already holds a 43.3% stake) and its 6% share of BlueBirds (a company holding 23.1% of Eutelsat in which Eurazeo currently holds 59.6%), as well as 0.6% in Veolia Environnement (Eurazeo already has 1.1%). These assets will be contributed for a value of EUR 99m and remunerated by the issue of 1.43 million new Eurazeo shares (before distribution of bonus shares). As part of the deal, Eurazeo is set to acquire Rue Imperiale’s EUR 400m real estate portfolio

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