SEGRO Plc (LSE:SGRO) agreed to acquire an additional 74.9% majority stake in Sofibus Patrimoine S.A. (ENXTPA:SFBS) from a group of sellers for approximately €180 million on December 15, 2020. Under the terms of the transaction, SEGRO will pay €313.71 per share in cash to the Hottinguer Concert Party which include Henri HOTTINGUER estates, Paul HOTTINGUER, Frédéric HOTTINGUER, Heriot NV, Hottinger Participations Françaises B.V., Financière Hottinguer SAS, Ocepro SAS and Soplacor SARL owning 56.3% stake in Sofibus Patrimoine, Véronique BOWDLER-RAYNAR owning 9.10% stake in Sofibus Patrimoine and other minority shareholders owning 9.5% stake in Sofibus Patrimoine. SEGRO will finance the acquisition from cash and its existing debt facilities. Post-closing, SEGRO will own 94.4% stake in Sofibus Patrimoine. SEGRO will file a simplified mandatory tender offer for the Sofibus shares not owned by SEGRO, at the same price of €313.71 per share, and intends to implement a squeeze-out procedure in order to delist Sofibus Patrimoine from Euronext Paris. The transaction is expected to close on December 21, 2020. Lazard & Co., Limited acted as a financial advisor and Archers Law LLP acted as a legal advisor to SEGRO.

SEGRO Plc (LSE:SGRO) completed the acquisition of an additional 74.9% majority stake in Sofibus Patrimoine S.A. (ENXTPA:SFBS) from a group of sellers on December 18, 2020. Soumen Das, Chief Financial Officer of SEGRO plc will join the Board of Directors of Sofibus Patrimoine on December 18, 2020.