France's Nexity said on Friday that it has completed the sale of its 23.4% stake in Credit Foncier de France to banking group Caisse Nationale des Caisses d’Epargne. Nexity announced in December it was in talks with CNCE to sell the asset. The transaction amount comes to a total of EUR 540 mln, with the final payment and the transfer of the interest expected to take place in the second half of February.
France's Nexity said on Friday that it has completed the sale of its 23.4% stake in Credit Foncier de France to banking group Caisse Nationale des Caisses d’Epargne. Nexity announced in December it was in talks with CNCE to sell the asset. The transaction amount comes to a total of EUR 540 mln, with the final payment and the transfer of the interest expected to take place in the second half of February.
The sale does not entail any change in the 38% interest held by CNCE in Nexity, it added, or in the terms and conditions of the business cooperation between them.
Crédit Foncier de France is a financial institution specialising in real-estate financing. It was created in 1852 and it has since become a key player in the commercial and residential property market and developed its financing activities with a wide spectrum of clientele ranging from private individuals to professional customers. The company has outstanding loans of EUR 45.5 bn according to its website. It also owns firms such as Compagnie de Financement Foncier, the largest private bond issuer after the French state; Foncier Expertise, the leader in property valuation services in France; and Keops Entreprises, a major player in commercial real estate.
