Global law firm White & Case LLP has advised BNP Paribas Cardif on a long term investment partnership with EDF Invest and Korian to invest in a real estate vehicle controlled and managed by Korian, the leading European care services group for elderly and fragile people.
BNP Paribas Cardif and EDF Invest have invested a total of €336 million through the partnership, each investing half of the amount, into a real estate vehicle controlled by Korian that owns 81 European healthcare assets across France, Germany, Belgium and Italy, with a value of approximately €1 billion. Concluded on 30 December 2020, the long term partnership of 15 years, with a possible extension, has a minimum lock up of seven years for the investors.
The White & Case team in Paris which advised on the transaction was led by partner Nathalie Nègre-Eveillard, with support from associate Louis Feuillée.
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