Altarea, a French real estate investment trust, has confirmed it is in exclusive talks to acquire Paris-based developer Cogedim for as much as EUR 650 mln, Bloomberg reported. In an emailed statement, Altarea, also headquartered in Paris, said it is negotiating to buy Cogedim from a group of shareholders led by Milan-based insurance company Vittoria Assicurazioni.
Altarea, a French real estate investment trust, has confirmed it is in exclusive talks to acquire Paris-based developer Cogedim for as much as EUR 650 mln, Bloomberg reported. In an emailed statement, Altarea, also headquartered in Paris, said it is negotiating to buy Cogedim from a group of shareholders led by Milan-based insurance company Vittoria Assicurazioni.
Alterea's main business is building and owning shopping malls and apartment buildings, while Cogedim also develops hotels and offices.
