Swiss asset manager Partners Group is in exclusive negotiations to acquire French property firm Foncia Groupe from Paris-listed Eurazeo and UK private equity firm Bridgepoint.
Since acquiring the Foncia business in July 2011 from banking giant BPCE, the two owners have 'radically transformed' Foncia, completing more than 60 acquisitions and enabling Foncia to post revenue of €696 mln in 2015, up from €580 mln in 2010.
According to French newspaper Les Echo, they are looking to raise more than €2 bn from the sale, double the amount they bought the company for five years ago.
Foncia is a major French residential real estate and property management services and the number one in the country in joint-property management, lease management and renting. It also has offices in Switzerland, Germany and Belgium.
Foncia has a network of more than 600 branches run by nearly 7,000 employees.
