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| Icade plans to dispose of housing segment French property group Icade announced that during the board of directors meeting of 11 December, Serge Grzybowski, Chairman and Chief Executive Officer of Icade, put forward the suggestion of exploring the disposal of the entire housing segment to one or more investors, particularly social investors, at survey value. Serge Grzybowski told the directors, "After this operation, Icade would distribute 50% of the capital gains from the disposal, as is provided by its SIIC status. The remainder would provide Icade with considerable leeway as opportunities arise in the commercial sector." The board of directors unanimously empowered the Chairman and Chief Executive Officer, Serge Grzybowski, to study the implementation of such an operation as quickly as possible. write your comments about the article :: © 2008 Construction News :: home page |