Boulogne-Billancourt, April 5, 2017 – 8:00 am – Carmila and Cardety, two property companies specialising in the management of shopping centres and retail parks adjoining stores under the Carrefour Group banner, announced a draft agreement on 2 March 2017 for the merger and absorption of Carmila by Cardety.
The aim of the merger is to create a major listed property company dedicated to promoting and developing locally-leading shopping centres in France, Spain and Italy, benefitting from a strategic partnership with the Carrefour Group, one of the World’s largest retailers and leading player in Europe.
On 31 March 2017, the boards of directors of Cardety and Carmila approved the merger of their companies and the merger parity of one Cardety share for 3 Carmila shares. A merger agreement was signed on April 4, 2017, on the back of the merger plan announced on 2 March through a joint press release.
Subject to the registration with the French financial markets authority (Autorité des Marchés Financiers, or AMF) of a Document E and obtaining certain authorisations, the merger would be submitted for approval of Carmila and Cardety’s respective shareholders in General Meetings to be held in the course of 2017.