French property group Nexity said on Monday it is in talks with banking giant Caisse Nationale des Caisses d'Epargne (CNCE) to sell its 23.4% stake in Credit Foncier de France. The company said the negotiations centre on a cash offer, and the transaction is expected to be completed in early 2009. The sale will not entail any change in the 38% interest held by CNCE in Nexity, it added, or in the terms and conditions of the business cooperation between them.
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