Icade's subsidiary Icade Capri has agreed with the Danner family, Opera Construction’s majority shareholder, to take over 100% of Opera Construction for EUR 56 mln. Icade will purchase 1,741,424 shares, or 69.3% of Opera Construction at a price of EUR 22 per share and 140,000 share subscription coupons for a price of EUR1.20 each.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
