Sale of a majority stake in Group Edouard Denis

Nexity acquired a 55% stake in the share capital of the real estate development group Edouard Denis from Mr Edouard Denis and the investment fund MBO Partenaires. The remaining 45% stake will be retained by Mr Edouard Denis, founder of the group. The Group Edouard Denis, which was founded in 1996 with an initial focus on high-end real estate in Le Touquet-Paris-Plage (northern France), has progressively diversified to become a real estate developer present in all market segments. Following a multi-regional strategy, the Group has been able to take significant positions in the Paris region, Lyon, Bordeaux, Lille and Nantes. The group recorded c.1,600 reservations in 2015 and generated revenue of approximately €180 million. Its portfolio of projects and land options should provide it with robust growth in 2016 and 2017. Mr Edouard Denis will chair and manage the company, under its own brand and with considerable operational independence. With this acquisition, Nexity becomes the leading French residential real estate development group in terms of the number of homes reserved and as regards reservations in value terms.