Aroundtown Increases GCP Stake to 81.5% Following Successful Exchange Offer

Aroundtown S.A. has announced the successful conclusion of its voluntary exchange offer for Grand City Properties S.A. (GCP) shares. This action boosts its ownership in GCP from 62.5% to 81.5%. The transaction reinforces Aroundtown's position within the European real estate market, emphasizing both commercial and residential assets.

As part of the agreement, 133,437,304 Aroundtown shares will be exchanged for 33,359,326 GCP shares. Those shares will be eligible for the 2025 financial year dividend, to be proposed at the 2026 annual general meeting. Financially, the deal is expected to contribute to a €35 million increase in FFO I annually, aligning with the company's updated 2026 guidance. While initially neutral, the transaction is projected to enhance per-share value in the mid-term.

This move complements other strategic actions by Aroundtown to drive FFO I growth, including hotel repositioning and share buyback initiatives. The offer is scheduled to settle on April 23, 2026.