EDF Invest, the investment arm of the EDF Group, has acquired a 49% stake in the company that owns the Espace Chanteraines retail park in Gennevilliers, which covers a total area of 23,000 square metres.
Our tax team had the pleasure of assisting EDF Invest with the acquisition of a 49% stake in the company that owns the Espaces Chanteraines retail park from Pimco Prime Real Estate and the establishment of a partnership with Altarea.
‘EDF Invest is thus taking over from Pimco Prime Real Estate in a partnership with Altarea, which retains control of the asset (51% of the shares) and remains in charge of its operational management. The transaction is valued at over €50 million.’
Pierre Appremont (partner) and Samuel Drouin (counsel) advised EDF Invest on the tax aspects of the acquisition, more specifically the audit of the company that owns the asset and the review and negotiation of the tax clauses in the acquisition agreement.
