Nexity will sell its Aegide-Domitys subsidiary to AG2R

The stakeholders of the operation have agreed on an overall value of the company of 375 million euros and this should be achieved around the end of the first half of the year, once employee representatives have been consulted and the required authorizations obtained.

At the end of the transaction, the social protection group AG2R La Mondiale will hold 67% of the capital of Aegide-Domitys, while Nexity will keep 18%. JMF Conseil will increase from 37% to 15% of the capital.

In addition, the real estate developer and Aegide-Domitys will conclude "a long-term strategic partnership relating to the real estate promotion of senior serviced residences", "preferential but not exclusive".

"We will remain the real estate developers of the majority of Aegide-Domitys developments, AG2R, for its part, will put the means to develop personal services and probably buy part of the buildings", explained to AFP the CEO of Nexity Alain Dinin.

"I want to devote all of our professions to what we know how to do best, that is to say working in the city. And managing people is not quite our core competence", he detailed.

To consolidate the links between Nexity and AG2R La Mondiale, the latter intends to acquire up to 5% of the promoter's capital.

This equity investment "will allow the group to consolidate its development by counting among its shareholders a strategic partner, capable of increasing activity and cooperation in real estate investments, and of continuing to stabilize its shareholding", underlined Mr. Dinin in the press release.