Brief: Covivio Signs Strategic Partnership With CDC Investissement Immobilier In Germany

Covivio SA

23/04/2024 06:27

April 23 (Reuters) - Covivio SA  CVO.PA :
    * SIGNING OF A STRATEGIC PARTNERSHIP IN GERMANY RESIDENTIAL
WITH
CDC INVESTISSEMENT IMMOBILIER
    * CLOSING OF THE TRANSACTION, WHICH IS SUBJECT TO USUAL
CONDITIONS
PRECEDENT, IS SCHEDULED FOR Q2 2024
    * PARTNERSHIP PROVIDES FOR THE ACQUISITION BY CDC
INVESTISSEMENT
IMMOBILIER, ON BEHALF OF CAISSE DES DÉPÔTS, OF A 49% STAKE IN A
PORTFOLIO (39% FROM COVIVIO IMMOBILIEN, A SUBSIDIARY OWNED BY
COVIVIO AT 61.7%, AND 10% FROM COVIVIO)
    * TRANSACTION WAS SIGNED ON THE BASIS OF A PORTFOLIO
VALUATION OF
€274M
    * MAJOR TRANSACTION FOR THE GERMAN RESIDENTIAL SECTOR WILL
ALSO
CONTRIBUTE €93M (GROUP SHARE) TO COVIVIO'S DISPOSAL PROGRAM
    * MORTGAGE FINANCING BACKED BY THE PORTFOLIO WILL REMAIN IN
PLACE

Source text for Eikon:  ID:nNDLP7rHS 
Further company coverage:  CVO.PA 

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