ICAD Icade

Icade (ICAD.FR) and Morgan Stanley (MS) Real Estate Fund V, or MSREF, announced Wednesday that they have entered into a binding framework agreement setting out the terms and conditions of the acquisition by Icade of MSREF's 94.5% stake in Compagnie la Lucette (MILU.FR), the listed French property company.

MAIN POINTS

-Following the completion of this strategic transaction, MSREF will hold approximately 4.5% of Icade's share capital, making it Icade's second largest shareholder after Caisse des depots et consignations.

-The transaction will be carried out on the basis of the combined payment of 2 Icade shares and cash consideration of EUR32.50 in exchange for 21 Compagnie la Lucette shares.

Company Web site: http://www.icade.fr

-Dow Jones Newswires; dennis.baker@dowjones.com