Affine : Proposed merger-absorption by la Société de la Tour Eiffel. Neutral vs Buy.
>Plan to create a property company with assets of over € 1.7bn - Affine announced on Friday evening that its board of directors and that of la Société de la Tour Eiffel (“STEâ€) have approved their merger plan, resulting in the creation of a listed property company on the Euronext Paris, benefiting from SIIC (REIT) status. The assets of the new company apparently exceed € 1.7bn, with over 75% of the portfolio in Grand Paris (the Greater Paris) region and 16% in large r...Affine is a property company specializing in commercial property. Co. is engaged in real estate activities and leasing activities. Co.'s activities are divided into four poles: a Parisian pole (offices), and 3 regional poles (offices, retail, warehouses & industrials). Office premises in French regions represent 43% of the portfolio and contain major assets such as the Lille Europe tower; Retail focuses on commercial properties, which consist chiefly of city-centre retail areas; and Warehouses and Industrials represents the logistics properties of the Affine group, including several types of platform, most of these being bi-modal (rail/road).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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