Carmila announces that it has signed an agreement with the controlling shareholders of Galimmo SCA with a view to acquiring 93% of the capital of this real estate company, a potential acquisition that will be carried out simultaneously with that of Cora France by Carrefour.

The geographical complementarity of Carmila's and Galimmo's portfolios, as well as their respective successes in asset management, offer an opportunity to create a benchmark player in commercial real estate in France", he explains.

The total price of the acquisition of 100% of Galimmo's shares would represent 294 million euros, paid by Carmila entirely in cash. Galimmo's 52 assets, located mainly in north-eastern France, are valued at 688 million at the end of 2022.

The transaction is expected to be accretive to both Carmila's NAV and EPRA recurring earnings per share. Completion is expected in summer 2024, once all regulatory approvals have been obtained.

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