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. Altarea is listed in Compartment A of Euronext Paris.
Source : Joint release