PARIS (dpa-AFX) - Covivio SA (COV.PA) and funds managed by Blue Owl Capital said on Wednesday they have agreed to form a joint venture to acquire three Thales sites in Vélizy-Meudon, near Paris, currently owned by Covivio.
The deal involves creating a joint venture owned 51% by Covivio and 49% by Blue Owl-managed funds, which will hold the Hélios 1 campus, the TED production and R&D site, and the Hélios 2 campus under construction. The transaction values the assets at €503 million and is expected to close in the first half of 2026.
Covivio said the deal represents the equivalent of €138 million in asset sales at a premium to end-2024 values and will help rebalance its portfolio toward hotels while continuing to support Thales' long-term expansion.
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