Caisse d'Epargne will become Nexity's core shareholder taking over at least 38% of the property developer. The two groups said that Nexity will subsequently become the regional lender's property arm. In exchange, Nexity will also take a 25% stake in Caisse d'Epargne's real-estate finance unit Credit Foncier. A final agreement is expected by the end of April.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
