Unibail-Rodamco
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| Unibail-Rodamco S.A. | |
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| Type | Public (Euronext: UL (Paris), ULA (Amsterdam)) |
| Founded | 2007 |
| Headquarters | Paris, France |
| Key people | Guillaume Poitrinal (CEO), Robert F.W. Van Oordt (Chairman of the supervisory board) |
| Industry | Property |
| Products | shopping centres, convention centres, office buildings |
| Profit | 2006: € 2.140 billion (Unibail), € 1.529 billion (Rodamco) |
| Employees | 2006: 966 (Unibail); 626 (Rodamco) |
| Website | www.unibail-rodamco.com |
Unibail-Rodamco is a Franco-Dutch company, headquartered in Paris, that focuses on investment in commercial property. It is the largest commercial real estate company in Europe.[1] The main assets managed by the company fall into three categories: shopping centres, convention centres and office properties, and have a total net worth of € 23.9 billion.[1] The company was formed by the June 2007 merger of France's Unibail and Dutch-headquartered Rodamco Europe and is a constituent of both the CAC 40 and AEX indices.
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[edit] History
[edit] Unibail
Unibail was founded as a finance leasing unit in 1968 by the company then known as Worms & Cie and listed on the Paris Bourse four years later. In 1991 it was decided to focus the company on the property investment sector, and to phase out involvement in lease financing. Unibail proceeded to build up a portfolio of property including almost 30 shopping centres across France, such as the Forum des Halles and the arcade within CNIT, as well as substantial office property in Paris and La Défense, including the Tour Ariane, and the Paris Expo group of convention centres in and around the French capital.[2][3]
[edit] Rodamco Europe
Rodamco Europe was formed in 1999 when Rodamco, a property investment fund set up by the Dutch asset management group Robeco in 1979, was broken up into various independent listed companies covering different parts of the world. Rodamco Europe subsequently amassed a portfolio primarily consisting of shopping centres and other retail spaces across 14 European countries, along with some office property in France and the Netherlands, acquiring smaller European rivals in the process.[4]
[edit] Merger
On April 10, 2007, Rodamco Europe announced an agreement to conduct a merger of equals[5] with Unibail to create the largest publicly-traded property company in Europe.[6] The merger was confirmed on 2007-06-21 after Unibail announced the acquisition of 80% of Rodamco's shares, making its offer for the remainder unconditional.[7] The merged entity took effect as a société anonyme under the new name Unibail-Rodamco on 2007-06-25.[8]
[edit] References
- ^ a b Unibail-Rodamco. Corporate profile. Retrieved on 2007-06-26.
- ^ Unibail-Rodamco. Unibail Historical Data. Retrieved on 2007-06-26.
- ^ Unibail-Rodamco. List of properties. Retrieved on 2007-06-26.
- ^ Rodamco Europe. History. Retrieved on 2007-06-26.
- ^ Rodamco Europe. Rodamco and Unibail merger. Retrieved on 2007-06-23.
- ^ Unibail, Rodamco to create European property leader. Reuters (April 10, 2007). Retrieved on 2007-06-23.
- ^ Unibail secures merger with Rodamco Europe. Reuters (June 21, 2007). Retrieved on 2007-06-23.
- ^ Amsterdam shares close slightly lower; Hagemeyer carries the day. AFX News (June 25, 2007). Retrieved on 2007-06-26.
[edit] External links
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