French construction group Icade is to increase its stake in the French property company Mr Bricolage. The takeover on 1 January 2008 will see Icade Group take control of 95% of the capital of Mr Bricolage. The deal will involve 32% by converting the BRS (Bonds Redeemable in Shares) it holds into shares and 63% by the acquisition of additional shares from the Mr. Bricolage Group.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
