By Cecilia Butini

 

Societe BIC said Monday that it has signed an agreement to sell its headquarters in Clichy-La-Garenne, France, to BNP Paribas Real Estate and Citallios for 175 million euros ($207.8 million).

The French company, which makes lighters, stationary and razors, said the sale represents approximately EUR169 million in gross capital gain and expects it be complete in the first quarter of 2021.

BIC will move its headquarters to a new location in Porte de Clichy, France, with relocation of team members expected in the second quarter of 2022, it said. The technologies team will move to the company site in Montevrain, France.

 

Write to Cecilia Butini at cecilia.butini@wsj.com

 

(END) Dow Jones Newswires

November 09, 2020 12:39 ET (17:39 GMT)

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