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Share Price:
Up 1,106.00p
Change Today:
13.00p
Market Cap:
£13,274m
Sector:
Real Estate Investment Trusts

Segro to buy further 74.9% stake in France's Sofibus

By Michele Maatouk

Date: Tuesday 15 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Segro has unconditionally agreed to buy a further 74.9% stake in French warehouse group Sofibus for €313.71 a share.
Following its acquisition of a 19.5% interest in 2018, this deal will take Segro's share to 94.4%. Segro said on Tuesday that the deal will allow it to "significantly" increase its presence in the Paris urban warehouse market.

Sofibus's main asset is Parc d'Activités des Petits Carreaux, a 149,900 sq m urban warehouse park in Bonneuil-sur-Marne, an established commercial area close to central Paris. The portfolio also includes 17 hectares of adjacent development land and an office building in Central Paris.

Segro chief executive David Sleath said: "This is a rare opportunity to significantly increase our exposure to urban warehousing in Paris which has long been a core market for Segro. We have got to know Sofibus well as a shareholder and member of the board of directors over the past two years and look forward to the next stage of growth for the Parc d'Activités des Petits Carreaux.

"Our local team has intimate knowledge of the Paris warehouse market and will deploy its expertise to add value by actively managing Sofibus's existing assets and by developing new, state of the art warehousing on the adjacent plots of land to satisfy growing occupier demand."

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SEGRO Market Data

Currency UK Pounds
Price 1,106.00p
Change Today 13.00p
52 Week High 1,106.00p
52 Week Low 871.20p
Volume 1,590,221
Shares Issued 1,200.17m
Market Cap £13,274m

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What The Brokers Say

Strong Buy 7
Buy 2
Neutral 6
Sell 0
Strong Sell 1
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SEGRO Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Mar-21 13-Aug-20
Paid 04-May-21 24-Sep-20
Amount 15.20p 6.90p

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 1,106,016 @ 1,106.00p
16:29 37 @ 1,104.50p
16:29 88 @ 1,104.50p
16:29 66 @ 1,104.50p
16:29 69 @ 1,104.50p

SEGRO Key Personnel

CEO David J R Sleath
COO Andy Gulliford
Chair Gerald Corbett
CFO Soumen Das