Kering: agreement with Ardian for 3 property complexes

(CercleFinance.com) - Kering and Ardian announced today that they have signed an investment agreement for three property complexes in Paris.


The portfolio includes the Hôtel de Nocé at 26, place Vendôme, and two buildings at 35-37 and 56, avenue Montaigne.

Kering will contribute these assets to a newly created joint venture. Ardian will hold a 60% stake in this real estate portfolio, while Kering will retain the remaining 40%. In return, Kering will receive a net consideration of 837 million euros.

The transaction is expected to close in the first quarter of 2025.

Jean-Marc Duplaix, Kering's Executive Vice-President and Chief Operating Officer, commented: "We are very pleased with this partnership, which enables us to secure key locations over the long term while preserving our financial flexibility. Ardian, a leading investment company, is a quality partner with whom we share a French heritage and a common vision. '

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