Case details

Merger control
Case reference
Ccent/2024/10 - CDC*FAP / SAS
Caisse des Dépôts et des Consignations
French public institution serving the public interest and the country's economic development. It carries out tasks of public interest in support of public policies led by the State and local authorities and develops activities open to competition. CDC is involved, through its subsidiaries, in activities open to competition, in the following areas: environment and energy; housing and real estate; investment and private equity and services. In Portugal, CDC develops its activity through subsidiaries that operate in the following areas: Transdev (public transport operator); La Poste (collection, sorting, transport and distribution of postal objects, mail and goods, and banking services); CNP (personal insurance company); BPI and Qualium.
Frey Amenagement et Promotion
100% subsidiary of FREY SA, whose main objective is to carry out real estate development operations (including all technical operations related to real estate development), acquire and sell all properties and carry out – for all projects carried out by the Frey group – development and delegated project management (MOD).
Activity (NACE)
Applicable legislation
Notification thresholds
Type of merger
Cooperation with sector regulators
Type of Investigation
Phase 1
AdC’s decision
Case description

The merger in question consists of the creation by Caisse des Dépôts et Consignations ("CDC") and CDC Habitat, on the one hand, and by Frey Aménagement et Promotion ("FAP"), with the intervention of its parent company FREY SA (“FREY SA”), on the other, of a simplified public limited company under French law, called SAS "Repenser la ville" ("Joint Company").

Phase I Decision - The AdC issued a non-opposition decision to the merger CDC*FAP / SAS.
The Caisse des Dépôts et Consignations (CDC) and Frey Aménagement et Promotion (FAP) notify the creation of a joint company.
Click here to see your activities