French financial group La Banque Postale has completed the acquisition of French non-listed real estate manager Ciloger, after purchasing a 45% stake from Nexity in Ciloger’s capital.
Financial details of the transaction have not been disclosed.
This acquisition brings La Banque Postale’s stake in Ciloger to 90%. The remaining 10% will still be held by CNP Assurances.
Ciloger has around €4.5bn of assets under management and distributes real estate products (SCPI and OPCI) from groups La Banque Postale and Caisse d’Epargne.
Towards this transaction, La Banque Postale and Nexity also intend to strengthen their partnerships in real estate and financial operations.