Banimmo announced on Thursday that it had acquired just under 260,000 shares in Belgian warehouse specialist Montea for EUR 30.11 each in an over-the-counter transaction. The price corresponded to Montea's net asset value per share at end-December 2007. Banimmo now holds 19.2% of the capital of Montea. Both companies are listed on Euronext Brussels.
Banimmo announced on Thursday that it had acquired just under 260,000 shares in Belgian warehouse specialist Montea for EUR 30.11 each in an over-the-counter transaction. The price corresponded to Montea's net asset value per share at end-December 2007. Banimmo now holds 19.2% of the capital of Montea. Both companies are listed on Euronext Brussels.
Banimmo said in a statement that it concluded the share acquisition in the framework of the broader joint acquisition with Montea of a Unilever site last December. Montea undertook a capital increase operation this week to help fund the acquisition. 'The main shareholders of Montea, i.e. the family-group De Pauw and Banimmo, in consultation with Affine, had engaged themselves to acquire a certain percentage of the newly issued shares. Banimmo intends continuing to play, beside the family group, an active role in the development of Montea,' Banimmo said.
Banimmo intends to work with Montea to develop mixed real estate portfolios composed of offices and logistics assets.
