Bridgepoint Group plc (LSE:BPT) agreed to acquire Residential property management services unit of Nexity SA for enterprise value of ?440 million on February 19, 2024. The proceeds of transaction will use to cut debt and adapt better to the more difficult market conditions in 2024. The acquisition remains subject to consultation with the relevant employee representative bodies and the European Commission?s review procedure and regulatory approvals. The European Commission has approved the transaction. Olivier du Mottay, Simon Lange, Jean-Luc Juhan, Olivia Rauch-Ravisé and Adrien Giraud of Latham & Watkins LLP (Paris) and Latham & Watkins LLP acted as legal advisor to Bridgepoint Group. Olivier Assant, Jean-Benoît Demaret, Marie-Cécile Rameau, Laetitia Tombarello, Julien Gayral and Juliette Crouzet of Bredin Prat & Associes acted as legal advisor to Nexity. The deal is expected to be finalized in the first half of 2024.

Bridgepoint Group plc (LSE:BPT) completed the acquisition of Residential property management services unit of Nexity SA on April 2, 2024. Nexity completed the sale of its residential property management services business to investment firm Bridgepoint Group for an enterprise value of ?440 million. The transaction, which resulted in the formation of a new French operator in real estate services, includes a strategic partnership to boost existing synergies between the alternative asset manager and Nexity's businesses for six years. Nexity will use the sale proceeds to accelerate its deleveraging process, with the capital gains to be utilized towards a process of informing and consulting with employee representative bodies before implementing a redundancy plan.