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Mercialys

Mercialys SA
Company typeSociété anonyme
Euronext: MERY
CAC Mid 60 Component
IndustryReal estate investment
Real estate management
Founded2005 (2005)
Headquarters
Paris
,
France[1]
Area served
France
Key people
Éric Le Gentil
(Chairman and CEO)
Decrease €91.6 million (2016)[2]
Decrease €114.19 million (2016)[2]
Total assetsDecrease €2.41 billion (2016)[2]
Total equityIncrease €737.9 million (2016)[2]
Number of employees
122
WebsiteMercialys.fr

Mercialys is a French company that operates in real estate, owning and managing properties.[1][3] It was created by the retailer company Casino Group in 2005.[4]

History

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In the late 1990s, the food retailer company Casino Group delegated the management of their retailer properties in a new subsidiary, Groupe Casino Immobilière.[4] In 2005, it was turned into a company with independent operations, which would go public itself, called Mercialys, although Groupe Casino retained a majority stake and therefore its control.[5] Mercialys was listed on the Paris Bourse on November 1, 2005.[6] The new company opted for the SIIC legal tax status for real estate investment trusts.[7]

Activities

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La Caserne de Bonne, one of the shopping malls leased by Mercialys.

Mercialys leases its properties (mostly shopping malls, self-service restaurants and other vendor locations) to retailer companies so that these exploit it.[1][3] The fact Mercialys maintains retail property assets in the long run, renovating and renting them, with limited exposure to development activities, gives it an advantage and a lower risk for investors.[8] It manages more than 120 properties, with a gross leasable area of about 714,500 m2.[9] The Mercialys' subsidiaries include Mercialys Gestion, Timur SCI, Point Confort and La Diane, among others.[3]

On March 4, 2012, Mercialys issued a bond to seven years, raising 650 million.[5] Also, it took debt from five banks to finance a 1.25 billion euros exceptional distribution for shareholders. It was supposed that these operations were carried out to fund Casino Group projects in Brazil.[10]

Ownership

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As of January 31 of 2020, the company reported the following composition in the ownership of shares:

On February 9, 2012, Casino confirmed its intention of reducing participation in Mercialys to 30 or 40 percent with the aim of obtain by 800 million euros.[11] On 4 May 2012, it announced the selling of a 9.8 percent to Crédit Agricole Corporate and Investment Bank, a subsidiary of Crédit Agricole, receiving 138 million euros and thus reducing its stake to 40.2 percent.[12]

References

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  1. ^ a b c "Company Description: Mercialys". businessweek.com. BusinessWeek. Retrieved 13 August 2012.[dead link‍]
  2. ^ a b c d "2016 Registration Document" (PDF). Mercialys. Retrieved 2 June 2017.
  3. ^ a b c "Company Profile: Mercialys". reuters.com. Reuters. Retrieved 13 August 2012.
  4. ^ a b "Background". Mercialys. Archived from the original on 8 June 2012. Retrieved 13 August 2012.
  5. ^ a b "Mercialys raises EUR 650m in first bond issue". PropertyEu.com. 13 March 2012. Archived from the original on 12 July 2012. Retrieved 13 August 2012.
  6. ^ "CASINO GUICHARD : At the Occasion of the Launch by Mercialys of a New Strategy, Casino Significantly Strengthens Its Financial Flexibility". 4Traders.com. 2 September 2012. Retrieved 13 August 2012.
  7. ^ "Profile: Mercialys". bloomberg.com. Bloomberg. Retrieved 13 August 2012.
  8. ^ "TEXT-S&P summary: Mercialys". reuters.com. Reuters. 16 July 2012. Retrieved 13 August 2012.
  9. ^ "Profile: Mercialys S.A." finance.yahoo.com. Yahoo! Finance. 16 July 2012. Retrieved 13 August 2012.
  10. ^ "French Mercialys payout said financing Casino in Brazil". PIE-Mag.com. 23 March 2012. Retrieved 13 August 2012.
  11. ^ "Casino To Reduce Stake In French Real Estate Company Mercialys". online.wsj.com. The Wall Street Journal. 9 February 2012. Retrieved 13 August 2012.
  12. ^ "Casino Sells 9.8% Of Mercialys, Receives EUR138 Million In Cash". Euroinvestor.com. 4 May 2012. Retrieved 13 August 2012.