As Altarea Moves on Primonial Group, LFDE Could Find a New Home
Posted on 07/01/2021
French real estate developer Altarea SCA is in negotiations to buy real estate asset manager Primonial Group (Groupe Primonial) for an enterprise value of €1.9 billion. The deal would occur in two parts – with 60% of the Primonial capital bought in the first quarter of 2022 and the remaining shares in the first quarter of 2024.
The deal includes all real estate asset management activities of the firm covering €30 billion, distribution, as well as a minority stake of 15% in La Financière de l’Echiquier (LFDE). The remaining 85% of LFDE’s share capital will remain held by Primonial’s current shareholders. Stéphane Vidal will remain chairman of Primonial and hold the title of president of LFDE.