La Banque Postale in exclusive talks with Nexity for CILOGER stake
La Banque Postale has entered into exclusive negotiations with Nexity to acquire its stake in CILOGER. The transaction would increase the bank's ownership from 45% to 90%.
La Banque Postale has begun exclusive negotiations with real estate company Nexity to acquire Nexity's stake in their joint venture, CILOGER. If the transaction is completed, La Banque Postale's ownership in CILOGER will increase from the current 45% to 90%.
The supervisory board of La Banque Postale authorized the start of these exclusive negotiations yesterday. The bank is pursuing this acquisition as part of its strategy to expand its asset management activities to better serve its clients.
Nexity stated that this divestment will not have a significant impact on its 2015 financial accounts. Beyond this specific transaction, both companies intend to strengthen their existing partnerships in real estate and finance.
The deal is expected to close in the second quarter of 2015, pending necessary regulatory approvals.