- First financing agreement between the European Investment
Bank (EIB) and the Korian group for €55 million
- A loan guaranteed by the European fund for strategic
investments
- 67 Ages&Vie projects under construction for completion
in 2021 and early 2022
- An inclusive, local solution in the heart of priority
communities
- Buildings that have a positive environmental impact (HQE –
NF Habitat standard)
- 4,000 beds to be operating by 2024 on French
territory
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Korian (Paris:KORI), the leading European care services group
for elderly and fragile people, has signed a €55 million loan
agreement with the European Investment Bank (EIB), the EU bank.
This 10-year loan will finance Korian’s capital contribution to SCI
Foncière Ages&Vie, created in May 2019 and jointly owned with
Banque des Territoires and Crédit Agricole Assurances, which will
invest in developing the Korian group’s network of Ages&Vie
properties.
Ages&Vie develops shared housing locations, which represent
an innovative alternative housing solution for senior citizens.
Shared housing lies part way between living at home and living in a
long-term care nursing home, and is particularly well suited to the
needs of the elderly in rural and semi-rural areas because it
allows them to remain in their local town or village where they
have lived most of their life, while also enabling carers to find
work close to home.
The EIB’s funding is guaranteed by the European fund for
strategic investments (EFSI), the central pillar of the Investment
Plan for Europe. It will help Korian increase the coverage of the
Ages&Vie network across France, particularly in “social
cohesion zones”, which are regarded as priority areas in European
Union policy. The network has the constant support of local elected
officials, especially since it benefits the local medico-social
ecosystem (doctors’ surgeries, nurses, pharmacies, etc.).
The residences will also meet the highest environmental
construction standards, for example obtaining the HQE (high
environmental quality) – NF Habitat label.
“I am very pleased to sign this first partnership with Korian
Group. This is an innovative project with a high social and
environmental impact,” said Ambroise Fayolle, EIB
Vice-President. He added: “As Europe’s climate bank, our
priority is to support sustainable infrastructure projects that
have a strong link with local communities. It is equally important
to develop in France innovative cohabitation solutions for elderly
persons in the areas where they have lived. By doing so, we promote
employment and territorial cohesion.”
Commissioner for the Economy, Paolo Gentiloni, said:
“With the support of the Investment Plan for Europe, this EIB
financing will allow the Korian Group to develop the Ages&Vie
initiative, which offers innovative co-living solutions for elderly
people in France. By enabling senior citizens to remain close to
their communities and creates new jobs in less developed regions,
this is a win-win situation for both regional and social
cohesion.”
When it was acquired by Korian in 2018, the Ages&Vie network
comprised 34 locations. At the end of 2020, it will have 70 active
locations across eight French départements.
The network is expanding rapidly, with 67 new locations
representing more than 1,000 beds in 33 départements scheduled for
completion in 2021 and early 2022.
By 2024, Ages&Vie aims to have a network of more than 500
shared housing locations, representing more than 4,000 beds in 70
départements. With the various services offered, Ages&Vie will
employ 1,500 people and is aiming for annual service revenue of
more than €100 million in France. This network will eventually
represent a real estate value of 500 million euros.
“As a European group, we are delighted to have arranged this
loan with the lending arm of the European Union, whose role is to
fund projects that will have a transformative long-term impact in
Europe,” said Sophie Boissard CEO of Korian. “Ages&Vie is a
local solution on a human scale, popular with the elderly and their
families, which perfectly meets the needs of the regions. We are
convinced that it is a concept with a future in France and in
Europe.”
About Korian
Korian, the leading European care services group for elderly and
fragile people. www.korian.com
Korian has been listed on Euronext Paris
Section A since November 2006 and is included in the following
indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small
and MSCI Global Small Cap
Euronext ticker: KORI - ISIN: FR0010386334 –
Reuters: KORI.PA – Bloomberg: KORI.FP
About the European Investment Bank
Created by the Treaty of Rome and founded in 1958, the EIB is
the European Union’s bank, which, together with its dedicated SME
support subsidiary the European Investment Fund (EIF), forms the
EIB Group. The EIB Group is a key player in reviving Europe’s –
including France’s – economy through investment. Thanks to its
reliable expertise and the financial attractiveness of its AAA
rating, the EIB Group has strengthened its activities in France
since 2012 (reaching €8.5 billion of investment in 2019), not only
supporting businesses and innovation but also financing projects in
strategic sectors such as climate action, energy, healthcare,
housing, education for young people and training infrastructure.
The EIB Group is the operator of the Investment Plan for
Europe.
On the European Fund for Strategic Investments
The European Fund for Strategic Investments (EFSI) is the main
pillar of the Investment Plan for Europe. It provides first-loss
guarantees enabling the EIB to invest in more and often riskier
projects. The projects and agreements approved for financing under
EFSI are expected to mobilise €535.4 billion in investment.
More information on www.eib.org/efsi.
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INVESTOR RELATIONS KORIAN Sarah Mingham VP
Investor Relations & Financing sarah.mingham@korian.com +33
(0)1 55 37 53 55
Carole Alexandre Deputy Head of Investor Relations
carole.alexandre@korian.com +33 (0)7 64 65 22 44
MEDIA KORIAN Jean-Marc Plantade Head of Press
Relations jean-marc.plantade@korian.fr +33 (0)7 62 90 32 58
Cyrille Lachèvre Deputy Head of Press Relations
cyrille.lachevre@korian.fr +33 (0)7 61 53 54 86
Marjorie Castoriadis Head of Media Relations
marjorie.castoriadis@korian.fr +33 (0)7 63 59 88 81
Press: European
Investment Bank (EIB) Anne-Cécile Auguin,
a.auguin@eib.org, tel.: +352 4379 83330, mobile: +352 621 361 948
Website: www.eib.org/press – Press Office: +352 4379 21000 –
press@eib.org Twitter | Facebook | Instagram | YouTube
| RSS | LinkedIn
European Commission Flora Matthaes,
flora.matthaes@ec.europa.eu, +32 229 83951