Foncia could fetch EUR 1.8bn - Journal du Dimanche
Foncia, the French real estate management company, could fetch a price tag of up to EUR 1.8bn, according to the Journal du Dimanche.
The French-language newspaper mooted the 13 times EBITDA figure following news earlier this week that vendors Eurazeo and Bridgepoint entered into exclusive discussions with Partners Group for the sale of Foncia, which the incumbent sponsors have jointly owned since 2011.
It did not source that multiple but did quote rival Nexity's boss Alain Dinin as suggesting the figure would mean an impressive gain for the private equity vendors. However, Dinin cautioned, his group would never pony up that level of cash. The handsome price tag should create a bounce for Nexity’s valuation.
The deal should come to completion by year-end, the JDD noted, without sourcing the time-line.
Journal du Dimanche (France)