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28 May 2012

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French Mercialys rents grow 7% despite sales

Rental income in French retail REIT/SIIC Mercialys, a listed unit of the Casino supermarket group, grew 7.1% to E38.5m in 1Q11, despite disposals. The integration of the new Caserne de Bonne shopping centre in Grenoble and Esprit Voisin development program boosted rents 8.0%, while disposals at end-2010 had a 5.6% negative impact.

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