Kering and Ardian formed a joint venture in a €837m deal.

Kering, a French multinational company specializing in luxury goods, and Ardian, a French private investment firm, formed a joint venture, in a €837m deal, to invest in a portfolio of prime Paris real estate. Ardian acquired a 60% stake in the new entity while Kering retains a 40% ownership. “We are very pleased with this partnership, which allows us to secure for the long term highly prominent retail locations while preserving our financial flexibility. With Ardian, a leading investment firm, we have found a quality partner with whom we share a French heritage and a common vision.” Jean-Marc Duplaix, Kering Deputy CEO and COO.