FPF to look for merger and acquisition consultants?
FPF has confirmed it is open to being taken over.
Merger and acquisition consultants may be interested to know French property firm FPF has confirmed it is open to a takeover.
Chief executive of the firm Jean-Paul Dumortier told Reuters any deal that values the company close to its net asset value could be successful.
This comes after an initial offer by Paris Hotels Roissy Vaugirard of €100 (£87) a share was rejected outright.
In terms of what will interest FPF - which is made up of ten members, five of which are independent - Mr Dumortier stated: "It must be supported by a true industrial project and at a price that is very close to the net asset value."
At present, FPF has €700 million in assets, although the majority of these are located in Paris.
Because of the level of interest in the group, sales negotiations may well take place in the near future over a potential takeover.
Posted by Ron Maverick
Source: Reuters, October 12th