On September 5, Kaufman & Broad announced that it had signed a purchase agreement for a block of 1,251,000 shares held by Artimus Participations, a company bringing together current and former managers of the real estate group, including its CEO Nordine Hachemi.

These shares were purchased under the company's share buyback program, at a price of 25.92 euros per share, a 2% discount to Tuesday's closing price, representing a total investment of 32.4 million euros for Kaufman & Broad.

On completion of the transaction, the repurchased shares will be cancelled and Artimus Participations' stake will be reduced to 5.40% of the share capital and 8.36% of the voting rights, with all proceeds from the sale allocated to repayment of the group's debt.

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