Icade: acquisition in Occitania
(CercleFinance.com) - Icade Promotion announces that it has signed an agreement for the acquisition of a 50.
1% stake in the M&A group, thereby becoming this developer's majority shareholder, which has been based in Montpellier since 2004, further strengthening its presence in the Occitanie region.
The acquired company's brands will be retained as part of the deal. The portfolio of development projects acquired represents potential revenues of around 170 million excluding VAT over the next three years.
M&A group's management will remain in the hands of their current partners and directors. Icade will increase its stake in the company to 65% in 2023 and will have the opportunity to acquire the entire company by 2025.
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