Mandarine Group, a Paris-listed property company, has acquired the Luxembourg-registered real estate company Mandalux for about EUR 111 mln. Mandalux's capital consists of 4 million shares in companies active in Morocco and Switzerland. The French company will focus on building, marketing and managing of developments in these two countries. The group said it is planning to move into more countries within the 27-member European Union, starting with France and Spain.
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