AG2R LA MONDIALE closes the acquisition of Ægide-Domitys
Press release
Paris, June 29, 2021
AG2R LA MONDIALE finalizes the acquisition of Ægide-Domitys
and plans an ambitious development road map alongside Nexity
Nexity and AG2R LA MONDIALE announce that they have finalized negotiations for the sale of control of the Ægide-Domitys group, the French leader in senior residences, in accordance with the terms communicated on April 8.
At the end of the transaction, which was approved by the French Competition Authority on June 22, 2021 and which was completed today, AG2R LA MONDIALE becomes the majority shareholder with 67% of the capital, with Nexity retaining an 18% stake and the founders of Ægide-Domitys, around Jean-Marie Fournet (JMF Conseil) 15%. The transaction amounts to 375 million euros (enterprise value for 100% of the capital).
The transaction includes the conclusion of a long-term non-exclusive majority partnership between AG2R LA MONDIALE, Ægide-Domitys and Nexity covering the strategic activity of real estate development, ownership and marketing of senior citizen residences. It also provides for an ambitious development plan with the opening of some twenty new residences each year, enabling Ægide-Domitys Group to double by 2025, reaching over 300 residences in operation by 2030. "
"We are particularly proud of this achievement, which seals strong partnership commitments in a shared vision and perspective. Our ambition to increase the number of senior residences is a response to a major social challenge and a significant expectation of the French people. This partnership is in line with AG2R LA MONDIALE's strategy to develop new businesses related to longevity and services for the elderly and their caregivers," said André Renaudin, CEO of AG2R LA MONDIALE.
"I am very pleased with the conclusion of these negotiations and the long-term partnership that combines the expertise of AG2R LA MONDIALE, Nexity and Ægide-Domitys, and strengthens our respective positions. AG2R LA MONDIALE's development plan will enable Ægide-Domitys to pursue ambitious growth and maintain its leadership position, and Nexity to strengthen its real estate development activity in the high-potential segment of senior residences. This long-term partnership is accompanied by AG2R LA MONDIALE's acquisition of a stake in the group, which currently holds more than 3%, in concert with Nexity's management, which I represent, thereby further strengthening our ties and continuing to stabilize our shareholder base," declared Alain Dinin, Chairman of Nexity.
"The arrival of AG2R LA MONDIALE in our capital is a strong sign of recognition for our business. We are delighted to welcome this new shareholder, who will enable us to expand our work with seniors and our daily commitment to preventing loss of autonomy. This recomposition of our capital reflects the ever-increasing openness of our sector to society" explains Jean-Marie Fournet, Chairman and CEO of Ægide-Domitys.
From left to right:
Alain Dinin,
Chairman of Nexity,
André Renaudin,
CEO of AG2R LA MONDIALE,
Jean-Marie Fournet,
Chairman and CEO of Ægide-Domitys.
Photo credit: Xavier Renauld
About AG2R LA MONDIALE :
Social and asset protection specialist in France, AG2R LA MONDIALE insures individuals, companies and industries to protect health, secure assets and income, guard against life's accidents and prepare for retirement. The Group has more than 15 million policyholders and supports 500,000 companies on a daily basis. With more than 11,000 employees, AG2R LA MONDIALE is present throughout France and the French overseas territories. As a mutual insurance company governed by equal partners, the Group cultivates a unique social protection model that closely combines profitability and solidarity, performance and social commitment. Each year, it devotes several million euros to helping vulnerable people and supporting individual and collective initiatives.
Follow the news: / @AG2RLAMONDIALE
Contact
Mélissa Bourguignon: / +33 (0)6 04 52 18 63
Emmanuelle Renaudie: / +33 (0)1 76 60 80 69
Nexity, La Vie Ensemble
With more than 11,000 employees and €4.9 billion in revenue in 2020, Nexity is France’s leading integrated real estate group, with a nationwide presence and business operations in all areas of real estate development and services. Our platform of services enables us to meet all the needs of our clients, individuals, companies, institutions and communities. Our raison d'être, 'life together', reflects our commitment to creating sustainable spaces, neighbourhoods and cities for them, which enables them to weave and reweave bonds.
For the second year in a row, Nexity has been ranked as the number one project manager by the Low Carbon Building Association (BBCA), a member of the Bloomberg Gender-Equality Index (GEI), and Best Workplaces 2021.
Nexity is listed on the SRD, Euronext’s Compartment A and the SBF 120.
Contact
Julie MARY – Head of Press Relations – / +33 (0)1 85 55 32 35
About Ægide-Domitys
Founded in 1998, Domitys, the French leader in senior residences, is a brand of the Aegide Group, a subsidiary of AG2R LA MONDIALE. With 3,500 employees and more than 130 residences where 13,000 elderly people live, Domitys is present throughout France and internationally with residences in Belgium, Italy and Mauritius. Since its creation, Domitys has been working to improve the quality of life of elderly people, in particular by joining forces with partners recognized for their commitment to the senior population (Synerpa, French Federation of Cardiology, etc.). Domitys also contributes to the national debate on issues related to aging through the Cercle Vulnérabilités & Société and Matières Grises think tanks.
Contact
Agence Matriochka Influences - / +33 (0)6 65 36 74 42
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