AFFINE (EPA:IML) Kaufman & Broad acquires Concerto ED under a partnership with Affine
Transparency directive : regulatory news
05/01/2015 18:00
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Press Release
Kaufman & Broad acquires Concerto ED under a partnership with Affine
Paris, January 6, 2015 - At the end of December, Kaufman & Broad acquired
Concerto European Developer, one of the leading logistics developers in France,
from its parent company Affine. Affine will continue to be a partner of Kaufman
& Broad in the capacity of minority shareholder for projects developed up until
2018.
With this acquisition, Kaufman & Broad has extended its commercial property
offering, thus reinforcing its positioning as a high-quality general property
developer. Thanks to Concerto's expertise and its innovative positions in
delivering tomorrow's logistics solutions, Kaufman & Broad will be able to
better meet the expectations of its operators, local authorities and investors
who are looking for new investment opportunities.
Nordine Hachemi, Chairman and CEO of Kaufman & Broad, explains: "Today,
commercial property represents a growth driver for Kaufman & Broad. With this
acquisition, we'll be able to expand our offering by combining Concerto's
know-how in the construction of logistics platforms with our expertise in
office design."
Concerto European Developer entered the consolidation scope of Affine in 2001
and in the last few years, it has become one of the key players in the
development of new generation logistics platforms through turnkey contracts
signed with leading consignors.
Alain Chaussard, CEO of Affine, declares: "Through this operation, Affine is
confirming the strategy that it adopted at the beginning of 2010, to simplify
and refocus on its office, retail and logistics property business. Thanks to
the partnership with Kaufman & Broad, Affine can benefit from Concerto's rein
forced growth capacities. "
Affine will keep in its portfolio the Sant Feliu site in Catalonia, where two
buildings have already been built and rented, and continue to be an investor in
the Parc de l'Aube near Troyes.
Thierry Bruneau, CEO of Concerto adds: "The expertise and size of Kaufman &
Broad will enable us to reinforce Concerto's growth capacities on a dynamic
French market that is receptive to the business approach that we're
developing."
ABOUT KAUFMAN & BROAD
For more than 40 years, Kaufman & Broad has been designing, building and
selling single-family homes in communities, apartments and offices on behalf
of third parties. Kaufman & Broad is a leading French property builder and
developer in view of its size, earnings and power of its brand.
For more information about Kaufman & Broad SA: www.ketb.com
CONTACT
CHIEF FINANCIAL OFFICER PRESS RELATIONS
Bruno Coche Camille Petit and Lucile Fogliani
+33 (0) 1 41 43 44 73 - +33 (0)1 56 03 12 80 -
Infos-invest@ketb.com contact.presse@ketb.com
ABOUT THE AFFINE GROUP
Affine is a property company specializing in commercial properties. At the end
of June 2014, it directly owned 58 buildings with a total value of EUR583m,
excluding taxes, for a total floor area of 540,200 sqm. The company owns office
properties (52%), retail properties (22%), warehouses and industrial premises
(25%). Its assets are fairly evenly divided between Ile-deFrance (Paris region)
and other French regions.
Affine is also the major shareholder (49.5%) of Banimmo, a Belgian property
repositioning company with operations in Belgium and France. At the end of June
2014, Banimmo had total assets of 19 office and commercial buildings, with a
value of EUR355m (including transfer taxes).
Total Group assets are EUR9 73m (including transfer taxes).
In 2003, Affine opted for French real estate investment trust (SIIC) status.
Affine shares are listed on NYSE Euronext Paris (Ticker: IML FP / BTTP.PA;
ISIN: FR0000036105) and admitted to the deferred settlement system (long only).
They are included in the CAC Mid&Small, SIIC IEIF and EPRA indexes. Banimmo is
also listed on NYSE Euronext.
For more information, go to www.affine.fr or https://twitter.com/Groupe_Affine
CONTACT
INVESTOR RELATIONS PRESS RELATIONS
Frank Lutz RPpublics - Alexandra Richert
+33 (0)1 44 90 43 53 - +33 (0)1 84 16 83 19 -
frank.lutz@affine.fr alexandra.richert@rppublics.com