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6 February 2012

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French REIT Icade said to acquire Cie Lucette

The French REIT/SIIC Icade is about to acquire Compagnie La Lucette, a listed counterpart group controlled by Morgan Stanley, which has struggled amid the global crisis with valuation downgrades amid a high debt liability, reports the La Tribune newspaper. Neither company has commented but a final decision is due this week. (See PFE 147; now online)

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