Gecina shareholders Blackstone, Ivanhoe push for board seats – Reuters

French property group Gecina said on Thursday that its stakeholders Blackstone and Ivanhoé Cambridge have requested they be allowed to appoint board members to reflect their 22.98 percent interest in the firm.

Gecina said it had been informed that a statement of intent was filed with France’s securities regulator by Eliseo Finance, a vehicle controlled by Blackstone and Canadian property manager Ivanhoé.

The request was for the appointment of  “a number of directors in proportion to this interest,” Gecina said.

“Gecina’s Board of Directors will consider the next steps to be taken further to this request,” the company wrote in a statement.

Blackstone and Ivanhoé acquired their stake last month following a ruling by a Luxembourg court which awarded them an equity stake in exchange for debt.

Ivanhoé is the real estate investment arm of pension fund manager the Caisse de dépôt et placement du Québec.

(Reporting By Alexandria Sage; Editing by Andrew Callus)

(This story has been edited by Kirk Falconer, Editor, peHUB Canada)

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