Emeis creates a real estate company, with partners, reducing its debt
23/09/2025 18:36
Sept 23 (Reuters) - French group emeis, which specialises in elderly care, on Tuesday announced the creation, with two partners, of a real estate company dedicated to healthcare real estate assets operated by the group. WHY IS IT IMPORTANT? The transaction enables emeis to exceed its initial divestment target by around 300 million euros ($354.09 million), it said. It also allows the group to reduce its debt while still having control over its assets as the new company will be controlled by emeis. BY THE NUMBERS Emeis' partners, Farallon Capital and TwentyTwo Real Estate, will invest 761 million euros around the end of 2025. The investors' contribution would lower the group's net debt by nearly 700 million euros, the company said. The real estate portfolio of the property company had an appraised value of 1.22 billion euros at the end of 2024. CONTEXT Formerly Orpea, the company rebranded to emeis in 2024. Orpea had been plagued by scandal since the beginning of 2022, when allegations of mistreatment in its French care homes in a book by journalist Victor Castanet sent shockwaves throughout France. The group rejected the allegations of widespread abuse which contributed to subsequent financial issues. ($1 = 0.8472 euros) (Reporting by Mathias de Rozario in Gdansk) ((mathias.derozario@thomsonreuters.com;))