About the transaction

BIL Corporate Finance is pleased to announce that it acted as exclusive financial advisor to SGM Group, a leading French retail group and operator of the historic BHV Marais department store, in securing a buyer for the BHV Marais building – a flagship historical department store located in the heart of Paris, measuring over 48,000 square meters

The transaction was successfully completed with BHV as operator, a real estate asset manager as acquirer, and Galeries Lafayette Group as seller. Under the new ownership structure, SGM (Société des Grands Magasins) will continue to operate and further develop the BHV retail business. This strategic outcome ensures the continued evolution and long‑term transformation of the BHV Marais asset, marking an important milestone for one of France’s most iconic department stores.

Frédéric Merlin, CEO at SGM Group, commented:

“This transaction marks a pivotal milestone for SGM. We are pleased to benefit from Brookfield’s expertise and investment capabilities, which will enable the full rehabilitation of the building and support our efforts to revitalize the department store. This partnership represents an important next step for BHV. We are deeply grateful to our partners for their trust, and we extend our sincere thanks to BIL Corporate Finance for their professionalism and unwavering support throughout the process.”

Frédéric Cassani (Head of Corporate Finance), Haofeng Lu (Associate Director), Gleb Vorobyev (Analyst), at BIL Corporate Finance, added:

" We are proud to have supported SGM Group in this landmark real estate transaction. The successful acquisition underscores the market’s confidence in SGM’s strategic vision and operational strength. Despite a complex context for the group, we are pleased to have led an equity raising for one of the largest retail assets in France—and in Europe—within a very short timeframe. We are confident that this transaction will allow BHV to preserve its heritage while unlocking its future potential. Congratulations to SGM Group and the real estate asset manager for this outstanding achievement.”

About SGM Group

The Société des Grands Magasins (SGM) is a French family owned real estate group specializing in revitalizing commercial assets located in prime city center areas. Founded by Frédéric and Maryline Merlin, the group focuses on breathing new life into existing properties through innovative retail concepts and the creation of vibrant shopping destinations rooted in local urban life. SGM has expanded its portfolio with major acquisitions—including several Galeries Lafayette stores and the BHV network—and is recognized for its dynamic approach to shaping next generation retail environments that emphasize proximity, conviviality, and immersive in person experiences.

For more information go to: https://www.groupe-sgm.com/

About BIL Corporate Finance

BIL Corporate Finance provides a unique offer combining financial advisory and lending services to entrepreneurs, corporates, and asset managers in support of their strategic transactions. Our pan-European team of Corporate Finance experts delivers tailor-made solutions across the capital structure (senior-junior debt, quasi-equity, equity, M&A). We bring a wealth of experience in various projects, sectors, and geographies, covering the European market.

About Banque Internationale à Luxembourg (BIL)

Founded in 1856, Banque Internationale à Luxembourg (BIL) is the oldest multi-business bank in the Grand Duchy. It has always played an active role in the main stages of the development of the Luxembourg economy. It currently operates in retail, private and corporate banking, as well as on capital markets. With more than 2,000 employees, the bank has branches in Luxembourg, Switzerland and China.