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Segro picks up stake in French property group Sofibus
Segro has bought a 19.4% stake in French property group Sofibus from Harwanne for 20.5m.
The FTSE 100 property investment and development company said the price is in line with the average share price over the last three months.
Listed on Euronext in Paris, Sofibus had real estate assets valued at 190m as at 30 September 2017. Its largest holding, representing a significant proportion of assets under management, comprises 127,000 sq m of properties within Le Parc d'Activités des Petits Carreaux, a 150,000 sq m industrial estate located around 15 kilometres south east of Paris.
The acquisition was financed using Segro's internal resources.
At 1540 GMT, the shares were up 1% to 578p.