Mercialys
 | |
| Société anonyme | |
| Traded as | Euronext: MERY |
| Industry |
Real estate investment Real estate management |
| Founded | 2005 |
| Headquarters | Paris, France[1] |
Area served | France |
Key people |
Jacques Ehrmann (Chairman and CEO) |
 €120.9 million (2012)[2] | |
 €143.4 million (2012)[2] | |
| Total assets |
€1.84 billion (2012)[2] |
| Total equity |
€737.9 million (2012)[2] |
Number of employees | 74 |
| Parent | Casino Group |
| Website |
Mercialys |
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
In the late 90s of the twentieth century, 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
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 take debt with 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
At the beginning of 2012, the company reported the following composition in the ownership of shares:[11]
- 50.09 percent: Casino Group.
- 8.01 percent: Generali Group.
- 7.26 percent: AXA Group.
- 0.17 percent: Treasury shares.
- 34.56 percent: Public
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.[12] 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.[13]
References
- 1 2 3 "Company Description: Mercialys". businessweek.com. BusinessWeek. Retrieved 13 August 2012.
- 1 2 3 4 "2012 Financial Report" (PDF). Mercialys. Retrieved 11 March 2013.
- 1 2 3 "Company Profile: Mercialys". reuters.com. Reuters. Retrieved 13 August 2012.
- 1 2 "Background". Mercialys. Retrieved 13 August 2012.
- 1 2 "Mercialys raises EUR 650m in first bond issue". PropertyEu.com. 13 March 2012. Retrieved 13 August 2012.
- ↑ "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.
- ↑ "Profile: Mercialys". bloomberg.com. Bloomberg. Retrieved 13 August 2012.
- ↑ "TEXT-S&P summary: Mercialys". reuters.com. Reuters. 16 July 2012. Retrieved 13 August 2012.
- ↑ "Profile: Mercialys S.A.". finance.yahoo.com. Yahoo! Finance. 16 July 2012. Retrieved 13 August 2012.
- ↑ "French Mercialys payout said financing Casino in Brazil". PIE-Mag.com. 23 March 2012. Retrieved 13 August 2012.
- ↑ "Ownership structure". Mercialis. Retrieved 13 August 2012.
- ↑ "Casino To Reduce Stake In French Real Estate Company Mercialys". online.wsj.com. The Wall Street Journal. 9 February 2012. Retrieved 13 August 2012.
- ↑ "Casino Sells 9.8% Of Mercialys, Receives EUR138 Million In Cash". Euroinvestor.com. 4 May 2012. Retrieved 13 August 2012.
