Altarea, a property developer in France, has entered into exclusive negotiations with the shareholders (Bridgepoint, Latour Capital, Société Générale Assurances) and management of Primonial Group, a real estate investment and asset management company, with a view to acquiring 60 percent of the capital of Primonial Group in the first quarter of 2022 and the remainder in the first quarter of 2024.
The scope of the prospective transaction includes real estate asset management (€30 billion/$36 billion in real estate assets managed from May 31, 2021) and distribution (€12 billion/$14 billion in assets managed or advised), as well as a minority stake of 15 percent in La Financière de l’Echiquier (LFDE, €13 billion/$15 billion in financial assets under management), with the remaining 85 percent of the capital to remain in the hands of the current shareholders (management, Bridgepoint, Latour Capital, Société Générale Assurances).
The transaction will create a
