Société de la Tour Eiffel successfully opens its capital and launches its dynamic development strategy

Société de la Tour Eiffel successfully opens its capital and launches its dynamic development strategy

Eight months after the successful takeover by SMA BTP of Société de la Tour Eiffel, the various objectives announced by the shareholder and the real estate company have been achieved.

Strengthening the company's capital base by € 180 million and maintaining its tax status as a listed real estate investment company (SIIC)

At month-April 2015 STE issued share warrants. At the same time the SMA Group which held nearly 90% of the capital after the takeover sold shares or warrants to several leading European institutional investors: AG Finance (AG Insurance), Crédit Mutuel Arkea (Suravenir), Humanis, Malakoff-Médéric and Mutuelle Générale.
Since 28 April 2015, the SMA Group has held less than 60% of the company's capital.

After the current warrant issue, which should be completed no later than 31 July 2015, the equity capital of STE, which has maintained its tax status as a listed real estate investment company (SIIC), will be strengthened by just over € 180 million.
The company will thus have the means to finance its growth and reduce its debt ratios, with LTV decreasing from 47.7% to 32.8%.

To take into account the new investors, the General Assembly has accepted the Board's proposal to appoint three new directors: AG Real Estate (AG Insurance), represented by Ms Brigitte Gouder de Beauregard, MM Puccini (Malakoff Médéric) represented by Mr. Guy Charlot, and Suravenir (Crédit Mutuel Arkea) represented by Mr. Thomas Guyot.

Doubling the company's property portfolio from € 800 million to € 1.6 billion in the next 3 to 5 years

The strategic roadmap for the Society of the Eiffel Tower team is to double its property portfolio in the next 3 to 5 years. The development will target investments in line with an approach focusing on business parks and service clusters, and closer management with tenant customers. For this reason, the company has decided to reorganize, in particular by internalizing all the rental management of its assets (administration, marketing, technical management) and by launching an active initiative to achieve ISO 9001 and ISO 14001 certification.

This growth strategy is based on the acquisition of secured assets and the development of land reserves.