2023-09-14 0:00 CET, France | Investment Management | Press release
Catella's acquisition of 60% of the shares of Aquila Asset Management SAS received regulatory approval at the beginning of September, and the transaction was finalized today, according to a press release.
On June 2, Catella announced that it had signed an agreement to acquire 60% of the shares of Aquila Group, an independent French real estate developer, for a purchase price of approximately €9.6 million.
The Aquila Group comprises Aquila Asset Management, founded in 2010, and Axipit Real Estate Partners, a real estate investment fund management company founded in 2021.
The shares are acquired from the local management team, who will retain a minority stake. An additional purchase price of approximately €1 million may be payable if certain criteria are met. The acquisition is financed from Catella's own funds.
"Aquila has a track record of success. And as we now join Catella's European network, we form a very strong team — internally, across Europe, and in the French market," said Jean-Marc Sabiani and Gilles Barbieri, founders and Managing Partners of Aquila.