Nexity Sells Stake in Ciloger to La Banque Postale
Real estate services group Nexity has finalized the sale of its stake in real estate fund manager Ciloger to La Banque Postale. The transaction officially completed on July 1, 2015.
Nexity announced on June 30, 2015, that it has completed the divestment of its 45% stake in real estate fund manager Ciloger to La Banque Postale. The sale, initially announced on April 9, 2015, was finalized after all conditions precedent were met.
The transaction is not expected to have a significant impact on Nexity's 2015 financial accounts, according to the company. The sale became effective as of July 1, 2015.
Ciloger specializes in the management of real estate investment funds. This divestment indicates a potential shift in Nexity's strategic focus or portfolio management, even though the immediate financial implications are stated to be limited.