NEXITY COMPLETES THE ACQUISITION OF ANGELOTTI GROUP
Paris, France 20 October 2022, 6:30 pm CEST
Nexity announces the acquisition of a controlling stake of Angelotti group, announced on 23 June, following the approval of the Competition Authority.
The acquisition of the Angelotti group, the regional leader in residential development and urban planning in the Occitanie region, is part of Nexity's "Imagine 2026" strategic plan, which aims to strengthen the company's service offering and territorial coverage and consolidate its market share in residential development, in a region with a strong demographic dynamic and where the Group has a lower market share than at national level. As announced at the Investor Day, the Group does not expect any new significant external growth in the coming months.
Following the transaction, Nexity's shareholding in the Angelotti group will be 55%, with the remaining 45% held by the current directors, who will retain their positions.
Véronique Bédague, Nexity’s Chief Executive Officer said: « I am delighted with the completion of the acquisition of the Angelotti group, which supports our ambition to contribute to inclusive and sustainable cities throughout France, by combining responsible urban planning and development. Nexity is consolidating its market share in residential real estate development thanks to a reputable and well-established local player, enabling us to strengthen our presence as a preferred partner of local authorities. I would like to welcome the 140 employees of the Angelotti group, whose development in the Occitanie and PACA regions will be one of our main priorities in the coming months. “
The Angelotti Group's business, which is expected to generate sales of around €200 million in 2022, will be booked in the Residential Real Estate Development division. It will be consolidated in Nexity's accounts from 1 November 2022.
NEXITY, LIFE TOGETHER
With nearly 8,000 employees and €4.6 billion in revenue in 2021, Nexity is France’s leading global real estate group, with a nationwide presence and business operations in all areas of real estate development and services. Our strategy as a global real estate operator is designed to serve all our clients individuals, companies, institutional investors and local authorities. Our corporate purpose ‘life together’ expresses our commitment to create for them, sustainable spaces, neighbourhoods and cities, that make it possible to forge and re-establish links. Nexity is notably classified for the fourth year in a row, France’s number-one low-carbon project owner by BBCA, is a member of the Bloomberg Gender-Equality Index (GEI), Best Workplaces 2021 and certified Great Place to Work® in September 2022.
Nexity is listed on the SRD, Euronext’s Compartment A and the SBF 120.
CONTACTS
Domitille Vielle – Head of Investor relations / +33 (0)6 03 86 05 02 –
Géraldine Bop – Deputy Head of Investor relations / +33 (0)6 23 15 40 56 –
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