Bridgepoint Group plc (LSE:BPT) agreed to acquire Residential property management services unit of Nexity SA for enterprise value of ?440 million on February 19, 2024. The proceeds of transaction will use to cut debt and adapt better to the more difficult market conditions in 2024. The acquisition remains subject to consultation with the relevant employee representative bodies and the European Commission?s review procedure and regulatory approvals.

The European Commission has approved the transaction. Olivier du Mottay, Simon Lange, Jean-Luc Juhan, Olivia Rauch-Ravisé and Adrien Giraud of Latham & Watkins LLP (Paris) and Latham & Watkins LLP acted as legal advisor to Bridgepoint Group. Olivier Assant, Jean-Benoît Demaret, Marie-Cécile Rameau, Laetitia Tombarello, Julien Gayral and Juliette Crouzet of Bredin Prat & Associes acted as legal advisor to Nexity.

The deal is expected to be finalized in the first half of 2024.