M&A Activity • Jul 23, 2021
M&A Activity
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PRESS RELEASE Paris, July 23th, 2021, 5.45 PM
Following the announcement made on June 30th, 2021 and the completion of the applicable procedures with regards to employee representative bodies of Primonial group, Altarea, the shareholders (Bridgepoint, Latour Capital, Société Générale Assurances) and the management of Primonial group announce today that they have signed the definitive agreements relating to the acquisition of (i) 60% of the capital of the Primonial group in the first quarter of 2022 and (ii) the remainder in the first quarter of 2024.
The completion of the transaction remains subject to the usual conditions, in particular the approvals of the AMF (Autorité des Marchés Financiers), the CSSF (Commission de Surveillance du Secteur Financier) and the Competition Authority.
Altarea is the leading property developer in France and leader in the urban transformation market. As both developer and investor, the Group operates in the three main property markets (Retail, Residential and Business Property), making it the leading developer of large mixed-use urban renewal projects in France. The Group has the required expertise in each sector to design, develop, market and manage made-to-measure property products. Altarea is listed in Compartment A of Euronext Paris.
Eric Dumas, Chief Financial Officer [email protected] │ +33 1 44 95 51 42
Pierre Perrodin, Deputy Chief Financial Officer [email protected] │ +33 6 43 34 57 13
Agnès Villeret - KOMODO [email protected] │ +33 6 83 28 04 15
Nathalie Bardin [email protected] │+33 6 85 26 15 29 Guillaume Maujean – Brunswick [email protected] │+33 6 67 74 36 89 Hughes Boëton – Brunswick [email protected] │+33 6 79 99 27 15
Primonial, a leading independent European wealth and property asset management group, offers a comprehensive range of savings solutions invested in a wide range of asset classes under an open architecture model. The Primonial Group mainly operates in the areas of life insurance and property asset management, drawing on investment specialists of recognised expertise. With over €55 billion of managed or advised assets (including €13 billion on behalf of La Financière de l'Échiquier), the Primonial Group, already present in a number of countries, is currently expanding its European footprint.
PRESS AGENCY
Citigate Dewe Rogerson Tom Ruvira / Kristell Le Nadan [email protected] +33 7 60 90 89 18 / +33 6 98 49 22 27
Anne-Christine Baudin [email protected] │+33 6 70 21 91 42
This press release does not constitute an offer to sell or solicitation of an offer to purchase Altarea shares. For more detailed information concerning 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.
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