Kering Signs Investment Agreement With Ardian for Paris Real Estate
Deal News | Jan 15, 2025 | Ardian
Kering and Ardian have entered into an investment agreement involving three prestigious real estate properties in Paris, including Hotel de Noc and two buildings on Avenue Montaigne. Kering is transferring these assets to a new joint venture, wherein Ardian will hold a 60% stake, with Kering retaining 40%. The transaction will provide Kering with net proceeds of €837 million. This deal aligns with Kering’s selective real estate strategy to secure outstanding retail locations in luxury districts. Ardian sees this as a unique opportunity to enhance its real estate presence in Paris. The agreement is set to conclude in the first quarter of 2025, subject to standard real estate transaction conditions.
Sectors
- Real Estate
- Luxury Retail
- Private Equity
Geography
- France – The article is centrally focused on real estate assets located in Paris, which are significant to France's luxury and real estate markets.
- Paris – The properties involved are situated in Paris, an epicenter for luxury and high-value real estate, underlining the local significance of this transaction.
Industry
- Real Estate – The transaction involves a portfolio of prime real estate properties in Paris, focusing on enhancing Kering and Ardian's footprint in luxury real estate.
- Luxury Retail – Kering’s strategy focuses on securing premier locations for luxury retail stores in key luxury markets, highlighting the article's relevance to this sector.
- Private Equity – Ardian, a private investment firm, is making a significant investment in this joint venture, illustrating the role of private equity in real estate ventures.
Financials
- 837 million – The net proceeds from the transaction for Kering.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kering | Seller | Company | A leading global luxury group, contributing real estate assets to the joint venture with Ardian. |
| Ardian | Buyer | Company | A world-leading private investment house that will acquire a 60% stake in the joint venture. |
| Jean-Marc Duplaix | Executive | Person | Deputy CEO and Chief Operating Officer at Kering, commented on the strategic partnership. |
| Stéphanie Bensimon | Executive | Person | Member of the Executive Committee, Member of the Board of Ardian France, Head of Real Estate at Ardian, commented on the joint venture. |