Develia to acquire the Polish subsidiary business of Nexity for €100m.

Develia, a residential property managers company, agreed to acquire the Polish subsidiary business of Nexity, a French real estate development company, for €100m. "The acquisition of Nexity will allow us to significantly increase Develia's sales potential in the short term because large number of projects from the land bank have already the administrative approvals enabling the groundbreaking. At the same time, we can achieve a higher return on equity on the transaction than assumed in the strategy," Paweł Ruszczak, Develia Deputy CEO.