ArganPrivate placement of shares

€ 79.7 million
Sole Bookrunner
;

Argan

Sole Bookrunner

Kempen is pleased to announce the successful private placement of €79.7m in Argan shares on behalf of CRFP 8

Transaction highlights

  • The successful private placement of shares in French-based warehouses company Argan raised €79.7m in proceeds for the selling shareholder CRFP 8, a company controlled by Carrefour
  • A wall-crossing exercise focused on real estate specialist investors was held leading to the deal being covered by indications of interest
  • The transaction was priced at €71.75 per share representing a 3% discount to the previous close, almost 15% of the free float and more than a year of trading volume

Company description

  • Argan SA is a France-based company which conceives, builds and rents out logistical bases and warehouses. The Company’s sites are located in Ile de France, Rhone Alpes Region, Orleans, Wissous and other regions
  • As of 15 October 2019, Argan’s assets represented 2.83m m², comprising 85 warehouses located exclusively in France, valued at €2.6bn and generating €140m in rental income on an annual basis
  • Argan is listed on Euronext Paris and is part of the CAC All-Share and IEIF SIIC France indices

Kempen Real Estate credentials

  • Kempen has advised on Real Estate transactions in 13 different countries in Europe since 2017
  • This transaction underpins our #1 position in European Real Estate ECM since 2011
  • The deal represents Kempen’s 9th real estate ECM transaction for the year, including deals with Befimmo, WDP, Vonovia, Arima, Tritax Eurobox and Aedifica, totaling over €1.7 billion

 

Contact

Dick Boer
Thomas ten Hoedt

Transactions