Proposed Merger of Société Foncière Lyonnaise and Inmobiliaria Colonial

Société Foncière Lyonnaise (SFL) and its parent company, Inmobiliaria Colonial, have announced a potential merger. The Boards of Directors from both companies are considering the integration of SFL into Colonial as part of a strategy to simplify the Group's structure. This move would follow Colonial's public exchange offer from August 2021 and aims to enhance integration between the two firms, which have cooperated since 2004.

The merger would involve exchanging all SFL shares for newly issued Colonial shares. The specific exchange ratio will be evaluated by a merger auditor. A merger agreement is expected in the first quarter of 2025, following consultation with employee representatives and pending standard conditions. This merger would leverage the combined strength of both companies in the prime real estate markets of Paris, Madrid, and Barcelona.