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.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.