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Altarea SCA

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Altarea SCA
Company typeSociété en commandite par actions
Euronext: ALTA
Founded1994 (1994)
FounderAlain Taravella[1] and Jacques Nicolet[2]
Headquarters
Paris
,
France[3]
Area served
Europe
Key people
Alain Taravella
(Chairman)
€265.1 million (2011)[4]
€94.0 million (2011)[4]
AUM€2.6 billion [5]
Total assets€4.64 billion (2011)[4]
Total equity€1.12 billion (2011)[4]
WebsiteAltareaCogedim.com

Altarea, also called Altarea Cogedim, is a french company, created in 1994, dedicated to both the development and investment in real estate, focusing especially on in construction, extension and development of shopping centers, as well as real estate development. Headquartered in France, it operates local agencies and subsidiaries in Spain and Italy.[6] Most of its businesses, however, take place in France and Italy.[1][7] Alain Taravella is founder and Chairman of the company.

History

The company was founded in 1994 by Alain Taravella and Jacques Nicolet,[1][2] with the name being a shortened version of "Alain Taravella Real Estate."[8] The company was initially engaged in the shopping malls development.[1][2] During the following years, it absorbed several smaller firms in the French property sector. In 2001 was established the Italian subsidiary. In 2007, Altarea purchased Cogedim from various investors, principally the Italian insurer Vittoria Assicurazioni SpA, at a cost of €650 million.[8] Cogedim had been founded in 1963 and had a wider range of activities.[9]

Ownership

According to reports from the company, 48.9 percent of it is owned by its founders, 16.6 percent by Prédica Crédit Agricole Assurances, 12.1 percent by Foncière des Régions, 7.7 by ABP Fund and 14.7 percent by smaller shareholders.[5]

Relevant projects

In 1997, Altarea began construction on the Bercy Village shopping center in the 12th arrondissement of Paris, which opened in 2000. Bercy Village, a non-standard shopping mall, was one of the first major projects of Altarea.[8]

In the early 2000s, Altarea introduced the "Family Village" concept. It involves shopping malls with a distinctive architecture and "environmentally friendly", designed for a clientele consisting of families and multiple age groups. The whole structure centers on parks and green areas.[10] Bercy Village attracts 12 million visitors each year, 20% of whom are tourists. [11]

In 2007, Altarea Cogedim purchased from the French State a 33.34 percent stake in Semmaris, the company that manages the Rungis International Market, the biggest wholesale food market in the world.[9][12][13]

On 23 February, 2011, it was announced that Altarea Cogedim, together with CFC Développement, will build the new French headquarters of Mercedes-Benz at Montigny-le-Bretonneux, replacing the current system of three venues for the carmaker distributed throughout the country. Altarea constructed around 170,000 m2 of offices and hotels in 2011.[14]

On 27 October 2011, an Altarea Cogedim subsidiary, Altacom, acquired a 24.13 percent stake in Rue du Commerce SA, one of France’s leading online retailers.[15] On 26 January, 2012, Altacom announced the purchase of a 95.11 percent majority stake, taking control of the firm, which allowed Altarea to diversify its business approach.[16][17]

References

  1. ^ a b c d "Profile: Alain Taravella". forbes.com. Forbes. March 2012. Retrieved 10 August 2012.
  2. ^ a b c "Executive Profile: Jacques Nicolet". businessweek.com. BusinessWeek. Retrieved 10 August 2012.
  3. ^ "Altarea SCA Details". businessweek.com. BusinessWeek. Retrieved 10 August 2012.
  4. ^ a b c d "2011 Registration Document". Altarea Cogedim. Archived from the original (PDF) on 10 August 2012. Retrieved 10 August 2012. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  5. ^ a b "2011 Annual Report". Altarea Cogedim. Archived from the original (PDF) on 10 August 2012. Retrieved 10 August 2012. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  6. ^ "Profile: Altarea SCA". in.reuters.com. Reuters. Retrieved 10 August 2012.
  7. ^ "A THREE-DIMENSIONAL REAL ESTATE COMPANY". Altarea Codegim. Retrieved 10 August 2012.
  8. ^ a b c Packard, Simon (3 August 2011). "French Property Mogul Survives Slump After Deal Almost Sank Him". bloomberg.com. Bloomberg. Retrieved 26 April 2013.
  9. ^ a b "History: Altarea Cogedim". Altarea Cogedim. Retrieved 10 August 2012.
  10. ^ "Family Village pied au plancher" (in French). Directgestion.fr. 8 April 2011. Retrieved 11 August 2012. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  11. ^ http://www.bercyvillage.com/Votre-centre-Bercy-Village.html
  12. ^ Crosskey, Peter (1 October 2007). "Shopping mall firm wins Rungis race". Just-food.com. Retrieved 10 August 2012.
  13. ^ "Linklaters advised Altaréa in the privatisation of Paris' wholesale market for fresh products, the largest one in the world, also known as the "Belly of Paris"". LinkLaters.com. 29 October 2007. Retrieved 10 August 2012.
  14. ^ "Altarea picked to build Mercedes HQ in France". Propertyeu.info. 23 February 2012. Retrieved 10 August 2012.
  15. ^ "Altarea SCA's Altacom Acquires Stake in Rue du Commerce SA; Plans to Launch Offer to Acquire Remaining Shares". reuters.com. Reuters. 27 October 2011. Retrieved 11 August 2012.
  16. ^ "Altarea SCA's Altacom Announces Results of Offer to Acquire Rue du Commerce's Remaining Shares". reuters.com. Reuters. 26 January 2012. Retrieved 11 August 2012.
  17. ^ "ALTAREA COGEDIM'S FRIENDLY TAKEOVER BID FOR RUEDUCOMMERCE IS A CLEAR SUCCESS AND INCREASES ALTAREA COGEDIM'S STAKE TO 95.11%". Altarea Cogedim. 26 January 2012. Retrieved 11 August 2012.
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