The aftercare and rehabilitation clinic in Saintes (New Aquitaine), the result of a partnership between Icade and another specialist in the sector. Alban Gilbert/Icade
The real estate savings heavyweight gets its hands on Icade Santé.
This is a major operation in the world of healthcare real estate. Primonial Reim, a heavyweight in this segment (clinical walls, nursing homes, etc.), with 11 billion euros in assets, gets its hands on Icade Santé, another leader in this segment (6.2 billion euros in heritage).
On Monday, Primonial Reim signed an exclusive agreement with the property company Icade, for the sale of the stakes that the latter holds (58%) in Icade Santé. The operation must take place in two stages. Primonial will first buy 64% of the shares held by Icade, for an amount of 1.4 billion euros. This first stage must be finalized by the end of July 2023 at the latest. The balance (38%) will then be sold gradually by June 2025, for 1.2 billion euros. Primonial will also absorb the debt associated with securities held by Icade, in the order of 2.4 billion euros.
A real enthusiasm
“This is a structuring operation, explains Grégory Frapet, chairman of the management board of Primonial Reim France. This operation translates…
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