RE Invest Belgium SA, an entity fully controlled by one of Brookfield’s real estate private funds, has announced having filed a takeover bid on the shares of Befimmo at a price of €47.5 per share.
As a reference shareholder, AG Real Estate, acting on behalf of its affiliate AG Finance, which owns 9.3% of Befimmo’s shares, has entered into a soft irrevocable undertaking to tender 5,6% of Befimmo’s shares while retaining the remaining stake.
AG Real Estate firmly believes that the offer provides shareholders with an attractive price and immediate liquidity, considering the significant premium of 51,8% to the closing price of €31,30 per share on February 24, 2022.
By retaining a minority stake, AG Real Estate aims at maintaining a local anchorage and facilitating the transition.
Thanks to Brookfield’s expertise, experience and network in realizing a strategic evolution and repositioning of its real estate portfolio, AG Real Estate is convinced that the offer will allow Befimmo to realize its full potential.
Serge Fautré, CEO of AG Real Estate confirms: “We have been a significant shareholder of Befimmo since its establishment in 1995, and we have accompanied its growth and development into a prime Belgian office investor. This attractive offer price provides us with a unique opportunity to crystallize our return on investment and it will benefit all shareholders of Befimmo.”
