Tikehau Capital to Acquire Sofidy

December 18, 2018

Cleary Gottlieb is representing Tikehau Capital in connection with the acquisition of Sofidy from its historic family shareholders and in the mandatory takeover bid for Selectirente.

The transactions allow Tikehau Capital to strengthen its presence in the real estate asset management market and improve the group’s business mix.

The acquisition of Sofidy was subject to the approval of competition authorities and the French market authority. The transaction closed on December 17, 2018.

As a result of the acquisition, Tikehau Capital will launch a mandatory takeover bid for the securities of Selectirente (shares and convertible bonds). The offer price is fixed at €89 per share and €89.45 for Selectirente’s convertible bonds (OCEANE), subject to adjustments mentioned in the offer document.

The opening of the offer is expected to take place in January 2019 after obtaining the visa of the French market authority on the offer document.

Founded in 1987, Sofidy has been a major player in real estate asset management in France.

Selectirente is a property company specializing in commercial leasehold properties and is partially owned by Sofidy.