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Wednesday 26 October, 2016

Nexity

Nextity and AEgide-Domitys enter into strategic partnership

Nextity and AEgide-Domitys enter into strategic partnership
NEXITY AND AEGIDE-DOMITYS ENTER INTO STRATEGIC PARTNERSHIP
 
Paris, 26 October 2016
 

Founded almost 20 years ago by Jean-Marie Fournet, Frédéric Walther and Didier Jaloux, the AEgide-Domitys group is France's leading provider of serviced senior residences (independent living facilities). Residences are developed by AEgide and managed by its wholly-owned subsidiary Domitys. Since 2007, Nexity has been a shareholder (with a 38.15% stake in the share capital) and partner of AEgide-Domitys, supporting its development.

AEgide-Domitys' founders and Nexity have decided to enter into a strategic partnership for the years to come, which will provide AEgide-Domitys with the financial resources necessary to achieve its ambitions, and enable Nexity - as an integrated real estate services operator - to add a new business line to its offering, focused on developing and managing serviced senior residences and services for senior citizens. By 2020, AEgide-Domitys aims to manage more than 100 senior residences in France and abroad.

Today Nexity acquired 7% of AEgide's share capital from the founders, bringing its stake in AEgide SA - the parent company of the AEgide-Domitys group - to 45.15%, with the founding shareholders owning 54.85%. Nexity and the founders have also undertaken to subscribe to a capital increase in AEgide.
Starting in 2018, Nexity will have the option of becoming the majority shareholder of AEgide. Should this occur, AEgide-Domitys would constitute a separate services business within the Nexity group, and continue to be managed by its founding executives. Starting at the end of 2016, AEgide's Chairman and CEO Jean-Marie Fournet will join Nexity's Executive Management Committee.

At 30 September 2016, AEgide-Domitys managed 57 serviced senior residences, comprising nearly 7,000 homes. 24 residences are under construction. The group has more than 1,500 employees.

In financial year 2015, AEgide recorded more than 1,700 reservations for homes in serviced senior residences, of which 801 were jointly developed with Nexity (345 of which as bulk sales). These figures should be markedly higher in 2016. The AEgide-Domitys group's consolidated revenue was around €190 million in 2015.

At this stage, AEgide-Domitys is consolidated in Nexity's accounts as an equity-accounted investment.

Alain Dinin, Chairman and CEO of Nexity, commented: 

"After nearly ten years of successful partnership, Nexity and AEgide-Domitys have decided to enter a new phase, which will see Nexity gradually increase its stake in AEgide's share capital.Creating independent living facilities for seniors is a response to a genuine societal need and has significant growth potential: in 2015, there were six million people over the age of 75 in France; this number will rise to more than eight million by 2030.For Nexity, this development is fully aligned with our strategy as an integrated real estate services group, and should eventually lead to the creation of a new 'serviced residences and personal services' division. It's a major growth driver for Nexity, in the rapidly expanding market for serviced senior residences."

Jean-Marie Fournet, Chairman and CEO of the AEgide-Domitys group, commented: 

"Nexity's increased shareholding in AEgide-Domitys is a major milestone in the group's development, and a continuation of our longstanding relationship begun in 2007. It is a testament to the relevance of a business model built nearly 20 years ago, and to how committed all our employees' are to meeting the vital need for senior independent living facilities.
In the market for serviced senior residences, which has seen a surge in demand, the AEgide-Domitys group aims to bolster its leading position by expanding its presence in the Greater Paris project, in France's other major citiesand abroad. The entire AEgide-Domitys group looks forward to continuing this value-creating partnership with Nexity to achieve this goal."

AT NEXITY, WE AIM TO SERVE ALL OUR CLIENTS AS THEIR REAL ESTATE NEEDS EVOLVE
Nexity offers the widest range of advice and expertise, products, services and solutions for private individuals, companies and local authorities, so as to best meet the needs of our clients and respond to their concerns.
Our business lines - real estate brokerage, management, design, development, planning, advisory and related services - are now optimally organised to serve and support our clients. As the benchmark operator in our sector, we are resolutely committed to all of our clients, but also to the environment and society as a whole.

 

Nexity is listed on the SRD and on Euronext's Compartment A
Member of the indices: SBF 80, SBF 120, CAC Mid 60, CAC Mid & Small and CAC All Tradable
Ticker symbol: NXI - Reuters: NXI.PA - Bloomberg: NXI FP
ISIN code: FR0010112524
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CONTACTS

 

Journalists

 

Nexity
Blandine CASTARÈDE  - Head of Communication and Brand Strategy  / +33 (0)1 85 55 15 52 - [email protected]
Anne GINDT - Communication Manager / +33 (0)1 85 55 10 54 - [email protected]

 

AEgide-Domitys
Frédéric WALTHER - CEO - Managing Director / +33 (0)1 53 65 60 60 - [email protected]
Sarah OGER - Head of Communication / +33 (0)1 53 65 60 64 - [email protected]

 

Analysts/Investors
Domitille Vielle - Head of Investor Relations / +33 (0)1 85 55 19 34 - [email protected]

 



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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nexity via Globenewswire


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