AGORA proceeded with a restructuring in the form of a split of the company Société de développement AGORA Sàrl & Cie secs into several separate companies, each focused on a specific activity:

• A real estate company, established as a société en commandite simple, fiscally transparent, dedicated to the BELVAL project and holding, in particular, the land, buildings, works, rights and related commitments;
• A real estate company, established as a société en commandite simple, fiscally transparent, dedicated to the METZESCHMELZ project and holding, in particular, the land, buildings, works, rights and related commitments;
• A real estate company, established as a limited liability company, fiscally opaque, holding only AGORA’s current registered office, as well as the related value-enhancement charges and works. The purpose of this third real estate entity, which holds an office building rather than land, is to allow, where applicable, the sale of this building in the short or medium term through a share deal.

To these three real estate companies, two more operational companies will be added:

• Agora Promotion, established as a Sàrl, will act as developer and will be at the forefront of the construction of affordable housing, Mobility Hubs, or any other construction deemed appropriate. It will bear the construction risk, either alone or together with a private partner. Vis-à-vis third parties (the State or private buyers), it will be responsible for the construction until the keys are handed over to the owner, ensure the proper execution of operations (design, construction and delivery of the buildings), carry out all steps necessary to secure financing for the project, call on other professionals to carry out the works (surveyor, architect, contractor, etc.), monitor the progress of the construction sites and find future purchasers. To assist it in its missions, it will call on Agora Project Management, which will act as its subcontractor.
• Agora Project Management, established as a Sàrl, will bring together all employees, with their seniority and maintenance of salary conditions, as well as the tools necessary for their activities, and will therefore be responsible for providing all services for the benefit of the companies of the group (real estate entities, Agora Promotion) and/or for the benefit of third parties (coordination, planning, engineering, etc.). The transfer of employees to Agora Project Management constitutes a transfer of undertaking, requiring that staff representatives be informed and that a number of formalities be completed.