French property group Nexity has announced the acquisition of a 55% stake in housing developer Edouard Denis from investment fund MBO Partenaires and Edouard Denis himself.
Financial details were not disclosed.
Edouard Denis will continue to hold the remaining 45% in the company, and will retain his position as president and CEO of the firm.
Nexity said that the deal is in line with its strategy aimed at development the residential business unit.
The Edouard Denis unit will be integrated within Nexity's residential activities from July 1, 2016, the company added.
