A consortium of French property developer Icade, Barclays European Infrastructure fund II, and banks Caisse des Depots and Dexia have signed a new Public-Private partnership contract to develop the Cite Sanitaire de Saint-Nazaire, in western France. The new hospitality complex will provide 794 beds and will represent an investment of EUR 280mln, excluding taxes. The development will be carried out by a new company - La Cité - which will be majority-owned by Caisse des Depots (with a 33% stake). Icade will own 16%, while Dexia and the Barclays fund will each hold a 25.5% stake.
Premium subscriber content – please log in to read more or take a free trial.
