M&A Activity • May 12, 2011
M&A Activity
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Paris, May 12, 2011
BPCE, Banque Palatine, Nexity, and Nexity Participations announce that they have entered into an exclusivity agreement with Batipart and French institutional investors until June 30, 2011 to negotiate the sale of Nexity Participations and Banque Palatine's respective stakes in Eurosic (32.1% for Nexity Participations and 20.1% for Banque Palatine).
This exclusivity agreement is based on Batipart and institutional investors' conditional offers valuing Eurosic at €34.30 per share, which represents Eurosic's triple net NAV as of December 31, 2010 restated of the 2010 coupon (€1.8) detached on April 19, 2011.
As soon as the conditions are fulfilled, including in particular the ownership clause of Eurosic credit lines, the sales of the stakes will be realized. Batipart, which will then own approximately 19% of the share capital of Eurosic, has informed BPCE, Banque Palatine, Nexity, and Nexity Participations of its intention to launch, shortly after, a voluntary public takeover bid on Eurosic's shares at the same price.
Founded in 1988 by Charles Ruggieri, Batipart is a family holding company operating mainly in real estate and healthcare sectors. Batipart's objective is to develop companies, find opportunities, form performing teams and accompany them until maturity.
Contact: Nicolas Ruggieri Tel: +33 1 58 97 54 33 [email protected]
Groupe BPCE, the 2nd-largest banking group in France, includes two independent and complementary commercial banking networks: the network of 20 Banque Populaire banks and the network of 17 Caisses d'Epargne. It also works through Crédit Foncier de France in the area of real estate financing. It is a major player in corporate & investment banking, asset management and financial services with Natixis. Groupe BPCE serves more than 36 million customers and enjoys a strong presence in France with 8,000 branches, 125,000 employees and more than 8 million cooperative shareholders.
| Contacts: | |
|---|---|
| Investor relations | Press |
| Roland Charbonnel: +33 1 58 40 69 30 | Sonia Dilouya: +33 1 58 40 58 57 |
| Evelyne Etcheverry: +33 1 58 40 57 46 | Terence de Cruz: +33 1 40 39 64 30 |
| [email protected] | [email protected] |
The largest fully integrated real estate group in France, Nexity uses its comprehensive range of sectorspecific expertise to serve the private individuals, companies and local authorities that make up its customer base. As an established leader across the entire spectrum of real estate businesses, spanning property development (homes, offices, logistics platforms, hotels and other business premises), real estate services for private individuals and companies, franchise networks, urban regeneration and asset management, Nexity can provide global responses to the needs of its customers. Nexity is present throughout France and elsewhere in Europe.
Nexity is listed on the SRD and on Euronext's Compartment A
Member of the Indices: SBF120, SBF 80, CAC Mid60, CAC Mid & Small and CAC All Tradable Mnemo: NXI - Reuters: NXI.PA – Bloomberg: NXI FP - ISIN code: FR0010112524
| Contacts: | |
|---|---|
| Press | |
| Delphine Chandelle: +33 1 71 12 10 92 | |
| Deputy Communications Director | |
| [email protected] | |
Banque Palatine, the BPCE group's bank for companies and high-net-worth individuals, works alongside entrepreneurs in achieving both their personal and professional ambitions. It puts its expertise at the service of mid-sized and intermediate-sized companies. In synergy with its business specialities (private banking, corporate finance, real estate, international, a trading floor), its network of 52 branches in France currently works with more than 8,500 companies and 110,000 retail customers. Contact: Mathieu Ferrié
Tel: +33 1 55 27 94 34 [email protected]
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