M&A Activity • Mar 2, 2022
M&A Activity
Open in ViewerOpens in native device viewer
As part of the pre completion work, of which various documentation have been communicated only on February 25, Altarea realised that some of the conditions agreed upon at the time of the signing of the SPA in June 2021 were not met - in terms of substance, form and timing.
Altarea deplores this situation, and will therefore not be able to complete the acquisition of Primonial as agreed with a sufficient level of legal security. Altarea will do everything in its power to assert its rights and protect its interests and those of its shareholders.
Altarea's outlook remains very positive in each of its business lines, as evidenced by the Group's excellent 2021 financial results. The Group has a healthy financial position and significant resources to finance its next growth cycle.
Altarea is the leading property developer in France. As both a developer and investor, the Group is present in the three main real estate markets (retail, housing and commercial property), making it the leader in major mixed-use urban renewal projects in France. For each of its activities, the Group has all the know-how required to design, develop, market and manage tailor-made real estate products. Listed in Compartment A of Euronext Paris.
[email protected], tel : + 33 1 44 95 51 42 [email protected], tel : + 33 6 85 26 15 29
Agnès Villeret - KOMODO Nicolas Leviaux, Group Media Relations Manager [email protected], tel. : +33 6 83 28 04 15 [email protected], tel : +33 1 56 26 70 86 / +33 7 60 75 17 14
Eric Dumas, Chief Financial Officer Nathalie Bardin, Head of Strategic Marketing, CSR and Innovation
This press release does not constitute an offer to sell or solicitation of an offer to purchase Altarea shares. For fuller information about Altarea, please refer to the documents available on our website. www.altarea.com. This press release may contain certain forward-looking statements that are based solely on information currently available and are only valid as of the date of this document. They are not guarantees of the Altarea Group's future performance. While Altarea believes that such statements are based on reasonable assumptions at the date of publication of this document, they are by nature subject to risks and uncertainties which are unknown or that Altarea is unable to predict or control which may lead to differences between real figures and those indicated or inferred from such statements. This press release must not be published, circulated, or distributed, directly or indirectly, in any country in which the distribution of this information is subject to legal restrictions
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.