M&A Activity • Jan 16, 2015
M&A Activity
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the Royal Decree of November 14, 2007
Extensa Group NV (AvH 100%) acquires 100% of the companies that own the Tour&Taxis site in Brussels, through the acquisition of the remaining 50% of the shares from its joint venture partners IRET and Royal Property Group.
The Tour&Taxis site is located in the canal area of the City of Brussels, and at 30 ha is one of the largest land reserves in the Region. Besides the well-known Royal Warehouse (offices, restaurants and shops), the site also houses the 'sheds' where large trade fairs and events are organized, the Post Office Building that serves as a multipurpose meeting centre, and the goods station that is still awaiting renovation. A new 10 ha park will lend structure to the site, where still more than 350,000 m² is available for construction. Construction of the first houses will begin in the first quarter of 2015, and the first phase of the new park will be completed in the spring.
The potential for new sustainable offices has already been tapped with the passive office building (16,900 m²) that was brought into use in November 2014 by the Brussels Department of Environment and has since been sold to the insurance company Intégrale. Construction work on the new Flemish Administrative Centre (45,000 m²) will begin in 2015.
Extensa will develop Tour&Taxis further according to the guidelines that have been set out in close consultation between the Brussels-Capital Region and the City of Brussels with a view to the creation of a new urban mixed-use district where it is pleasant to work, live and relax in a green and sustainable environment.
Extensa specializes in urban expansion and inner city development, with projects such as the new urban district Cloche d'Or in Luxembourg City, Cederpark (Hasselt), and De Munt (Roeselare).
The transaction will be finalized in January 2015. Extensa will primarily finance the acquisition using a bank loan of 75 million euros. The impact of this transaction on the consolidated results of Extensa will be explained in more detail when the annual results of Ackermans & van Haaren are published on February 27, 2015.
| February 27, 2015 | Annual results 2014 |
|---|---|
| May 20, 2015 | Quarterly update Q1 2015 |
| May 26, 2015 | Annual general meeting |
Ackermans & van Haaren is a diversified group active in 5 key segments: Infrastructure & Marine Engineering (DEME, one of the largest dredging companies in the world - CFE and A.A. Van Laere, two construction groups with headquarters in Belgium), Private Banking (Delen Private Bank, one of the largest independent private asset managers in Belgium, and asset manager JM Finn in the UK - Bank J. Van Breda & C°, niche bank for entrepreneurs and liberal professions in Belgium), Real Estate, Leisure & Senior Care (Leasinvest Real Estate, a public regulated real estate company -
Extensa, an important land and real estate developer focused on Belgium and Luxembourg), Energy & Resources (Sipef, an agro-industrial group in tropical agriculture) and Development Capital (Sofinim and GIB).
In 2013, through its share in its participations (incl. CFE), the AvH group represented a turnover of 5.7 billion euros and employed 22,706 people. The group concentrates on a limited number of strategic participations with significant potential for growth. AvH is quoted on the BEL20 index, the Private Equity NXT index of Euronext Brussels and the European DJ Stoxx 600.
All press releases issued by AvH and its most important group companies as well as the 'Investor Presentation' can also be consulted on the AvH website: www.avh.be. Anyone who is interested to receive the press releases via email has to register to this website.
For further information please contact:
Luc Bertrand CEO - President Executive Committee Tel. +32.3.897.92.42
e-mail: [email protected]
Jan Suykens Member Executive Committee Tel. +32.3.897.92.36
Tom Bamelis Member Executive Committee Tel. +32.3.897.92.42
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