French construction company Icade has raised its offer to take over a 51% of SIICInvest from EUR 2.71 to EUR 2.78 per share, valuing the company at about EUR 82.5 mln. Icade in November signed an agreement with Credit Foncier de France to acquire control of SIICInvest. Credit Foncier de France has a 60% interest in Locindus.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
