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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
London
French Affine re-focuses on investment to create investor transparency
French property group Affine is undertaking a major re-focus on investment, cutting back on development and non-core activities to bring more clarity for its shareholder base. CEO and founder Maryse Aulagnon and Deputy CEO Alain Chaussard told PIE in an interview that the move was partly prompted by massive drop in the Affine share price amid the global financial crisis, which brought home the key importance of strategy and portfolio transparency. "It's been a difficult choice - a dramatic change compared to what we have been doing for the last 20 years," says Aulagnon. Adds Chaussard: "We are dramatically decreasing the non-property business either by selling or winding up firms in that part of the business."