French property companies Apsys and Foncière Euris have ended their 'exclusive partnership' launched in 2004 for the development of shopping centres in France and Poland . As such, the two companies will exchange their respective stakes in the different projects, in a move which will give Foncière Euris full ownership on the three shopping centre projects in Orléans and Grenoble in France and Gdynia in Pologne.
French property companies Apsys and Foncière Euris have ended their 'exclusive partnership' launched in 2004 for the development of shopping centres in France and Poland . As such, the two companies will exchange their respective stakes in the different projects, in a move which will give Foncière Euris full ownership on the three shopping centre projects in Orléans and Grenoble in France and Gdynia in Pologne.
At the same time, Groupe Apsys will obtain control of eight developments in France and Poland, of which one in Poland and seven across France in the cities of Caen, Metz, Paris La Villette, Champigny, Saint-Martin d'Hères. The partners will retain their respective stakes in the Beaugrenelle project in Paris and in the Poznan scheme.
The two companies, which did not unveil the reason behind the termination of the contract, said the projects currently under development will be put up for sale.
