Altarea announces that the acquisition of Primonial cannot be completed under the pre-agreed conditions
Paris, March 2 2022, 8:00 a.m.
As part of the pre completion work, of which various documentation have been communicated only on February 25, Altarea realised that some of the conditions agreed upon at the time of the signing of the SPA in June 2021 were not met - in terms of substance, form and timing.
Altarea deplores this situation, and will therefore not be able to complete the acquisition of Primonial as agreed with a sufficient level of legal security. Altarea will do everything in its power to assert its rights and protect its interests and those of its shareholders.
Altarea's outlook remains very positive in each of its business lines, as evidenced by the Group’s excellent 2021 financial results. The Group has a healthy financial position and significant resources to finance its next growth cycle.