Eight Advisory’s Real Estate and Eight Advisory Avocats teams assisted Nexity and Aegide in the sale of the majority of the capital of the Aegide Domitys group for the financial and tax due diligence respectively

Eight Advisory’s Real Estate and Eight Advisory Avocats teams assisted Nexity and Aegide in the sale of the majority of the capital of the Aegide – Domitys group, the French leader in service residences for senior citizens (SRS), for the financial and tax due diligence respectively. The group was taken over by AG2R La Mondiale as part of a strategic partnership aimed at making Nexity one of the main developers of SRS in the coming years.

Nexity and AG2R La Mondiale have finalised negotiations for the sale of control of the Aegide-Domitys group, the leading French provider of assisted living facilities. At the end of the transaction, which was completed on 29 June 2021, AG2R La Mondiale becomes the majority shareholder with 67% of the capital, with Nexity retaining an 18% stake and the founders of Aegide-Domitys, around Jean-Marie Fournet (JMF Conseil) 15%. The transaction amounts to 375 million euros (enterprise value for 100% of the capital). The transaction includes the conclusion of a long-term non-exclusive majority partnership between AG2R La Mondiale, Aegide-Domitys and Nexity covering the strategic activity of property development, ownership and marketing of senior citizen residences. It also provides for an ambitious development plan with the opening of around twenty new residences each year, enabling the Aegide-Domitys Group to double in size by 2025 and to reach more than 300 residences in operation by 2030.

Founded in 1998, Domitys, the French leader in senior residences, is a brand of the Aegide Group, a subsidiary of AG2R La Mondiale. With 3,500 employees and more than 130 residences where 13,000 seniors live, Domitys is present throughout France and internationally with residences in Belgium, Italy and Mauritius. Since its creation, Domitys has been working to improve the quality of life of the elderly, in particular by joining forces with partners recognised for their commitment to the senior population (Synerpa, French Federation of Cardiology, etc.). Domitys also contributes to the national debate on ageing-related issues through the Cercle Vulnérabilités & Société and Matières Grises think tanks.

AG2R La Mondiale is a specialist in social and asset protection in France, providing insurance for individuals, companies and industries to protect health, secure assets and income, protect against life’s accidents and prepare for retirement. The Group has over 15 million policyholders and supports 500,000 companies on a daily basis. With more than 11,000 employees, AG2R La Mondiale is present throughout France and its overseas territories. As a company with equal and mutualist governance, the Group cultivates a unique social protection model that closely combines profitability and solidarity, performance and social commitment. Each year, it devotes several million euros to helping vulnerable people and supporting individual and collective initiatives.

With more than 11,000 employees and a turnover of 4.9 billion euros in 2020, Nexity, the leading integrated French real estate group, is present throughout France and operates in all areas of development and services. Its service platform enables the group to meet all the needs of its customers, individuals, companies, institutions and local authorities. Its raison d’être, “life together”, reflects its commitment to creating sustainable spaces, neighbourhoods and cities that enable people to build and rebuild relationships. For the second year in a row, Nexity has been ranked as the number one project manager by the Low Carbon Building Association (BBCA), a member of the Bloomberg Gender-Equality Index (GEI), and Best Workplaces 2021. Nexity is listed on the SRD, Compartment A of Euronext and the SBF 120.

The Real Estate team which carried out the financial VDD was composed of Philippe Méjean.

The Eight Advisory Avocats team which carried out the tax VDD was composed of Guillaume Rembry, Baptiste Gachet and Maxence Linker.