ALTAREA purchases Rungis shares
France
Tuesday 04 December 2007
SEMMARIS, the Rungis International Wholesale Market Authority, has agreed to sell a portion of its shares to private company ALTAREA.
Rungis International Wholesale Market, the world's largest fresh produce wholesale market located on the outskirts of Paris, France, is preparing for an expansion following a decision by the French State to sell minority participation of the capital, 33.4 per cent of the overall shareholding, to property investment company ALTAREA.
The move is seen as a strategic one, allowing major investment to aid the development of a 20-35ha extension of the market at an estimated €100m, and to further enhance the prospect of taking minority shares in respective market authorities, such as in China and Russia.
The public sector, consisting of the French state, the city of Paris and the district of Val-de-Marne, will retain the majority 55 per cent of shares in the market.
Rungis International Wholesale Market, the world's largest fresh produce wholesale market located on the outskirts of Paris, France, is preparing for an expansion following a decision by the French State to sell minority participation of the capital, 33.4 per cent of the overall shareholding, to property investment company ALTAREA.
The move is seen as a strategic one, allowing major investment to aid the development of a 20-35ha extension of the market at an estimated €100m, and to further enhance the prospect of taking minority shares in respective market authorities, such as in China and Russia.
The public sector, consisting of the French state, the city of Paris and the district of Val-de-Marne, will retain the majority 55 per cent of shares in the market.
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