Retour

ALTAREA (EPA:ALTA) - Woodeum Residentiel and Altarea Cogedim join forces to expand scale low-carbon residential development

Directive transparence : information réglementée Opérations de l'émetteur (acquisitions, cessions...)

16/07/2019 15:20

PRESS RELEASE

WOODEUM RESIDENTIEL AND ALTAREA COGEDIM JOIN FORCES TO EXPAND LARGE-SCALE
LOW-CARBON RESIDENTIAL DEVELOPMENT

Paris, 16 July 2019 - The founders of the Woodeum Group, Guillaume POITRINAL
and Philippe ZIVKOVIC, announce the acquisition by Altarea Cogedim Group, the
leading property developer in France, of a 50% stake in their subsidiary
Woodeum Résidentiel in order to expand low-carbon residential property
development on a large-scale. In the context of this transaction, the Woodeum
Group becomes WO2 Holding and Woodeum Résidentiel, the subject of the
transaction, will now be renamed Woodeum.

This strategic and financial partnership entered into by Woodeum and Altarea
Cogedim seeks to foster housing development, with a goal of 2,500 to 3,000
cross-laminated timber (CLT) residential units, per year, by 2023. The result
of in-depth analysis and reflection for the city of tomorrow, this partnership
will enable the two groups to combine their respective expertise with a view to
meeting the expectations of local authorities and the general public alike.

This alliance strengthens the strategy of Altarea Cogedim with regards to its
corporate social responsibility approach with the aim to achieve a neutral
carbon footprint by developing carbon-free solutions with timber constructions
as well as low-carbon bio-sourced materials. It adds to Altarea Cogedim's
expertise and development platform, covering all asset classes (residential,
retail, offices, logistics, hotels, serviced residences, etc.), thus enabling
the Group to offer an effective, comprehensive response to the challenges of
territorial transformation.

The transaction values Woodeum (formerly Woodeum Résidentiel) at approximately
EUR100 million. In addition, Altarea Cogedim Group has already undertaken to
provide the company with further financing of EUR50 million to boost its
development.

The current Woodeum (formerly Woodeum Résidentiel) management team will remain
unchanged. The company will remain independent. Julien PEMEZEC, currently
Woodeum Résidentiel's executive chairman, will perform the duties of Chairment
of the Executive Board with Philippe ZIVKOVIC will be President of the
Supervisory Board.

WO2, the company founded by Guillaume POITRINAL and Philippe ZIVKOVIC to
promote low-carbon office buildings, is not affected by this transaction. WO2
will continue to be wholly owned by the two founders and will in particular,
develop the tertiary projects of the ICAWOOD fund with equity commitments of
EUR750 million. The Woodeum brand will be exclusively dedicated to the
development of residential operations.

Alain TARAVELLA, Altarea Cogedim Group Founder and Chairman, said: "Faced with
the mobilisation against climate change, we have an unprecedented
responsibility to develop more sustainable and resilient towns and cities. This
is the driver behind the strategic partnership we are forging with Woodeum. As
an urban entrepreneur, we are firmly convinced that timber construction will
play a key role in the development of low-carbon towns and cities. We are
committed to speeding up our development in this field by providing an
ambitious offering designed to meet the needs of local authorities and the
expectations of users."

Guillaume POITRINAL and Philippe ZIVKOVIC said: "The acquisition by the Altarea
Cogedim Group of a stake in our subsidiary, Woodeum Résidentiel, now named
Woodeum, is a recognition of the relevance of our positioning as a
'low-carbon'-exclusive developer. It will help reinforce the company's means to
speed up its development as well as generate a large number of potential
synergies between the two groups. That's good news for sustainable development
in the real estate industry."

This transaction was facilitated by the legal and financial advice provided by
Gide Loyrette Nouel, Rothschild and DeGroof Petercam for Woodeum and Weil
Gotshal & Manges LLP, Lacourte Raquin Tatar, CMS Francis Lefebvre, August
Debouzy and Accuracy for Altarea Cogedim.

ABOUT ALTAREA COGEDIM - FR0000033219 - ALTA

Altarea Cogedim is the leading property developer in France. As both a
developer and an investor, the Group operates in the three main property
markets (Retail, Residential and Offices), leading major mixed-use urban
renewal projects in France. The Group has the required expertise in each sector
to design, develop, market and manage made-to-measure property products. In
Retail, Altarea Cogedim manages standing assets of EUR4.6 billion. Listed in
Compartment A of Euronext Paris, Altarea has a market capitalisation of EUR3.0
billion at 31 March 2019.

Altarea Cogedim Contacts
Nathalie BARDIN
Institutional Relations, Communication and CSR Manager
+33 (0)1 56 26 25 53 / +33 (0)6 85 26 15 29
nbardin@altareacogedim.com

Côté Jardat Contact
Valérie JARDAT
+33 (0)1 41 05 94 10 ? 06 12 05 18 35
valerie.jardat@cote-jardat.fr

Nicolas LEVIAUX
Media Relations Officer
+33 (0)1 56 26 70 86 / +33 (0)7 60 75 17 14
nleviaux@altareacogedim.com

About WOODEUM

Founded four years ago, the WOODEUM Group (henceforth known as "WO2 Holding")
designs, builds and develops solid wood buildings to construct more attractive,
more sustainable and more resident-friendly towns and cities. The group
specialises in the development and renovation of "low-carbon" buildings. It
uses latest-generation bio-sourced materials, in particular cross-laminated
timber (CLT). These high-quality materials are replacing traditional shell
materials. They help to significantly reduce the carbon footprint and make
construction sites more bearable for local residents. Cross-laminated timber,
left visible indoors, provides residents with unmatched everyday comfort.

Founded by Guillaume Poitrinal and Philippe Zivkovic, the group is the market
leader today for low-carbon building development through its subsidiaries:
Woodeum Résidentiel for building residential units and WO2 for tertiary real
estate development. With its teams of engineers and programme managers, the WO2
Holding Group companies have unique know-how in the field of developing real
estate projects which are exemplary from an environmental point of view and are
renowned for their architectural quality and high degree of comfort.

Woodeum Résidentiel (now WOODEUM), the company subject of this transaction and
which is now owned on a 50-50 basis by Altarea Cogedim and WO2 Holding, has
delivered and is building over 500 residential units, has a secured portfolio
of more than 1,600 housing units that will be launched this year and in 2020
with a further 2,000 residential units at different stages of development. In
just four years, the company's sales volume has reached the EUR100 million mark
and is expected to exceed EUR200 million in 2020.

WO2, still entirely owned by its founders via WO2 Holding (formerly Woodeum
Holding), has delivered and is in the process of building around 12,000 m² of
office space. WO2 also has a 140,000 m² office portfolio and has 120,000 m²
of office space as technical project manager or as a provider of project
management assistance. Furthermore, WO2 is a partner of ICAWOOD, a fund with
EUR750 million of equity commitments, launched by ICAMAP and Ivanhoé Cambridge
in February 2019, dedicated to developing low-carbon offices in Grand Paris.

WOODEUM Contacts
Camille Labéguerie
Marketing and Communication Manager
+33 (0)7 72 32 49 07
c.labeguerie@woodeum.com