Groupe BPCE has agreed today to dispose of 3 % of Nexity’s share capital to an investment vehicle controlled by Nexity’s executives
Groupe BPCE has agreed today to dispose of 3 % of Nexity’s share capital to an investment vehicle (NewPort SAS) controlled by Nexity’s executives and whose representative is Alain Dinin, Chairman and CEO of Nexity (“the Transaction”). NewPort intends to keep its stake in Nexity in the medium term. The Transaction will occur at a price of €30.0 per Nexity’s share.
This disposal forms part of the implementation by Groupe BPCE of its strategic plan, aiming at reducing or disposing of its parts in its non-core assets. Following the Transaction, Groupe BPCE’s residual stake in Nexity will stand at 33.4%.
The lock-up undertaken by BPCE in the context of the 2 December 2014 placement was lifted only as part of the Transaction and only for the shares related to it.