Brussels-based Allfin Group has become the major shareholder in its Belgian peer Immobel with the acquisition of 29.85% of its share capital representing a total investment of €55 mln.
Brussels-based Allfin Group has become the major shareholder in its Belgian peer Immobel with the acquisition of 29.85% of its share capital representing a total investment of €55 mln.
Allfin, a company controlled by Marnix Galle, has bought nearly one third of the over 4 million Immobel shares for a price of €44.70 a share.
The vendor is Cresida Investment, a unit of Eastbridge S.à.r.l., which is a privately-held investment company, owned by the Bruckner family.
Allfin is a Belgian holding company specialised in the development of high-end office buildings as well as residential, commercial and mixed-use projects in Belgium and Luxembourg. It was established in 2001 and has developed over 220,000 m2 of residential, office and retail space since then.
Its major projects inlcude the redevelopment of the former head office of Solvay in Ixelles (Ernest project) and the historical headquarters of the ASLK/CGER bank in the heart of Brussels (Chambon Project).
Immobel is a Belgian real estate developer with a portfolio of projects worth €403 mln. The core of Immobel’s assets lies in Belgium and Luxembourg, but the company is also increasingly active in Poland.
