Mercialys

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Mercialys SA
Type Société anonyme
Traded as EuronextMERY
Industry Real estate investment
Real estate management
Founded 2005 (2005)
Headquarters Paris, France[1]
Area served France
Key people Jacques Ehrmann
(Chairman and CEO)
Operating income Increase €120.9 million (2012)[2]
Net income Decrease €143.4 million (2012)[2]
Total assets Increase €1.84 billion (2012)[2]
Total equity Decrease €737.9 million (2012)[2]
Employees 74
Parent Casino Group
Website Mercialys.fr

Mercialys is a French company that operates in real estate, owning and managing properties.[1][3] It was created by the retailer company Casino Group in 2005.[4]

History[edit]

In the late 90s of the twentieth century, the food retailer company Casino Group delegated the management of their retailer properties in a new subsidiary, Groupe Casino Immobilière.[4] In 2005, it was turned into a company with independent operations, which would go public itself, called Mercialys, although Groupe Casino retained a majority stake and therefore its control.[5] Mercialys was listed on the Paris Bourse on November 1, 2005.[6] The new company opted for the SIIC legal tax status for real estate investment trusts.[7]

Activities[edit]

La Caserne de Bonne, one of the shopping malls leased by Mercialys.

Mercialys leases its properties (mostly shopping malls, self-service restaurants and other vendor locations) to retailer companies so that these exploit it.[1][3] The fact Mercialys maintains retail property assets in the long run, renovating and renting them, with limited exposure to development activities, gives it an advantage and a lower risk for investors.[8] It manages more than 120 properties, with a gross leasable area of about 714,500 m2.[9] The Mercialys' subsidiaries include Mercialys Gestion, Timur SCI, Point Confort and La Diane, among others.[3]

On March 4, 2012, Mercialys issued a bond to seven years, raising 650 million.[5] Also, it take debt with five banks to finance a 1.25 billion euros exceptional distribution for shareholders. It was supposed that these operations were carried out to fund Casino Group projects in Brazil.[10]

Ownership[edit]

At the beginning of 2012, the company reported the following composition in the ownership of shares:[11]

  • 50.09 percent: Casino Group.
  • 8.01 percent: Generali Group.
  • 7.26 percent: AXA Group.
  • 0.17 percent: Treasury shares.
  • 34.56 percent: Public

On February 9, 2012, Casino confirmed its intention of reducing participation in Mercialys to 30 or 40 percent with the aim of obtain by 800 million euros.[12] On 4 May 2012, it announced the selling of a 9.8 percent to Crédit Agricole Corporate and Investment Bank, a subsidiary of Crédit Agricole, receiving 138 million euros and thus reducing its stake to 40.2 percent.[13]

References[edit]

  1. ^ a b c "Company Description: Mercialys". businessweek.com. BusinessWeek. Retrieved 13 August 2012. 
  2. ^ a b c d "2012 Financial Report" (PDF). Mercialys. Retrieved 11 March 2013. 
  3. ^ a b c "Company Profile: Mercialys". reuters.com. Reuters. Retrieved 13 August 2012. 
  4. ^ a b "Background". Mercialys. Retrieved 13 August 2012. 
  5. ^ a b "Mercialys raises EUR 650m in first bond issue". PropertyEu.com. 13 March 2012. Retrieved 13 August 2012. 
  6. ^ "CASINO GUICHARD : At the Occasion of the Launch by Mercialys of a New Strategy, Casino Significantly Strengthens Its Financial Flexibility". 4Traders.com. 2 September 2012. Retrieved 13 August 2012. 
  7. ^ "Profile: Mercialys". bloomberg.com. Bloomberg. Retrieved 13 August 2012. 
  8. ^ "TEXT-S&P summary: Mercialys". reuters.com. Reuters. 16 July 2012. Retrieved 13 August 2012. 
  9. ^ "Profile: Mercialys S.A.". finance.yahoo.com. Yahoo! Finance. 16 July 2012. Retrieved 13 August 2012. 
  10. ^ "French Mercialys payout said financing Casino in Brazil". PIE-Mag.com. 23 March 2012. Retrieved 13 August 2012. 
  11. ^ "Ownership structure". Mercialis. Retrieved 13 August 2012. 
  12. ^ "Casino To Reduce Stake In French Real Estate Company Mercialys". online.wsj.com. The Wall Street Journal. 9 February 2012. Retrieved 13 August 2012. 
  13. ^ "Casino Sells 9.8% Of Mercialys, Receives EUR138 Million In Cash". Euroinvestor.com. 4 May 2012. Retrieved 13 August 2012.