Galeries Lafayette “in negotiation” to sell the Paris BHV

The group has announced that it has opened “exclusive negotiations” with a Lyon property company concerning its emblematic boutique in the Marais.

Source AFP

The BHV Marais, former Bazaar of the Hôtel de Ville, emblematic department store of Paris.
© MAGALI COHEN / Hans Lucas / Hans Lucas via AFP

Published on 02/16/2023 at 11:28 a.m.

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Lhe Galeries Lafayette group announced in a press release on Thursday February 16 that it had entered into “exclusive negotiations” with a small real estate company from Lyon, the Société des grands Magasins, to sell it the BHV Marais, former Bazar de l’Hôtel de City, department store located opposite the Paris City Hall. In the press release, the group declares “planning to pass on the torch of BHV Marais to a family player”, who wants to “continue its development with the help of its teams while preserving employment”.

The sale remains “subject to the usual information-consultation processes as well as the authorization of the Competition Authority”, but should take place in 2023.

More information to follow on Point…

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