French property company Icade said on Friday that its chairman and chief executive Serge Grzybowski is considering the disposal of the entire housing portfolio to one or more investors at survey value. 'After this operation, Icade would distribute 50% of the capital gains from the disposal, as is provided by its SIIC status. The remainder would provide Icade with considerable leeway as opportunities arise in the commercial sector,' Grzybowski said during a meeting of directors. Grzybowski's proposal was unanimously backed by the board of directors, which believe the operation should be looked into 'as quickly as possible,' Icade said.
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