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28 May 2012

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French FdR founder cuts stake, steps down

French REIT Foncière des Régions' long-standing shareholder Batipart has cut its stake and its CEO Charles Ruggieri is stepping down as FdR supervisory board chairman. Batipart, Ruggieri's family holding company, has cut its holding to 7.2% from 11.5%, selling to FdR's largest shareholder Delfin and insurance groups.

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