PARIS, March 2 (Reuters) - France’s BPCE, which owns investment bank Natixis, said it had completed the sale of its entire 12.7 percent stake in real estate company Nexity at 41.20 euros a share. The price implies a deal value of about 286 million euros ($310 million) for the disposal of the 6.95 million shares. Nexity shares closed at 43.37 euros on Tuesday. “This disposal forms part of the implementation by Groupe BPCE of its strategic plan aiming at reducing or disposing of its parts in its non-core assets,” BPCE said in a statement on Wednesday. The placement was managed by Societe Generale Corporate & Investment Banking. Rothschild & Cie acted as financial advisor, BPCE added. ($1 = 0.9215 euros) (Reporting by James Regan; Editing by Andrew Callus)
Nexity has sold its 12.7% stake in real estate firm, BPCE , at 41.20 euros per share, implying a deal value of $310m ( €286m ) for the disposal of 41.20 m shares, as part of its strategy to dispose of non-core assets.