The leading French real estate developer Nexity announced on Tuesday April 2 that it had sold its personal services branch to the investment company Bridgepoint for 440 million euros, activities which will be grouped within a new entity called Evoriel.
Affected by the real estate crisis, "Nexity is taking an important step in its transformation and accelerating its reduction in debt by finalizing the sale of its property administration activities to the investment company Bridgepoint on the basis of a value of company worth 440 million euros,” the group said in a press release.
The operation "is accompanied by a strategic partnership lasting six years, renewable for four years, between Nexity and the new entity, aimed at perpetuating and amplifying existing synergies with the group's promotional activities", specified Nexity.
The personal services activities "have now come together within the Evoriel group" which brings together "more than 3.100 employees" - or a third of Nexity's workforce - this independent entity which has just been created announced to AFP .
According to Nexity, these employees are specialized in co-ownership trustees, rental management, old real estate transactions and insurance brokerage.
Evoriel also brings together more than 200 agencies and three historic brands: Lamy, present in around a hundred French cities, Oralia, a network of agencies, and Richardière, specialized in management for institutions and large private investors.
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