White & Case advises BPCE on strategic partnership with Nexity for new and renovated homes

Global law firm White & Case LLP has advised BPCE Group, the second-largest French banking group, on its entry into exclusive negotiations with Nexity relating to a strategic partnership for the distribution of new and renovated homes.

The joint venture will serve property developers by sourcing, selecting and structuring a range of new and renovated homes aimed at investors and first-time homebuyers, marketed through two distribution agreements: within the Banque Populaire and Caisse d'Epargne banking networks via BPCE Solutions Immobilières; and through the iSelection and Perl partner networks, which include major operators in banking and insurance, wealth management and brokerage.

The transaction is subject to the necessary consultations with the BPCE and Nexity groups' employee representative bodies. The new joint venture and the reorganisation of distribution operations within the Banque Populaire and Caisse d'Epargne banks are intended to be operational no later than January 1, 2027.

The White & Case team is Paris which advised on the transaction was led by partners Hugues Mathez and Laure Bauduret and included partners Valérie Ménard and Alexandre Ippolito and associates Coline Berthe de Pommery, Marovola Rasoanaivo, Hovig Cancioglu, Claire Sardet and Thibaut Garcia.

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