Following the acquisition agreement signed on 20 December 2013 with the company’s shareholders, Nexity announced that it has finalized today (1 April 2014) its acquisition of the share capital of Oralia, France’s fifth largest property management group. Backed by a network of 25 agencies and 635 employees, Oralia manages a portfolio of over 165,000 units, including about 31,000 under rental management agreements at the end of 2013. Hervé Denize, Nexity’s deputy CEO, will as of today be Chairman of Oralia.
Oralia will be consolidated in Nexity’s financial statements starting on 1 April 2014, as part of the Services and Distribution Networks division.
Source: Nexity
