The Altarea Cogedim group has just acquired a 50% shareholding in Woodeum Residentiel, a subsidiary of the Woodeum group dedicated to wood housing, specialising in cross-laminated timber. This investment values Woodeum Residential to approximately €100 million.
The Woodeum group has now become WO2 holding and Woodeum Residential changed its name to Woodeum.
Gide is delighted to have participated in the creation of this partnership, which will contribute to the development of wood construction, an environmentally-friendly, low-emission construction method. This transaction is inscribed in a common strategy for both partners to accelerate the production of solid wood housing with a target of 2,500 to 3,000 per year by 2023.
The Gide team advising the Woodeum group on this transaction comprises partner Frédéric Nouel, and associate Vincent Bour on real estate aspects, with partner Didier G. Martin and associate Arthur Debourdeaux on corporate aspects.
The Altarea Cogedim group was advised by Weil Gotshal & Manges LLP.