The Jos De Pauw family has said it increased its shareholding in the Belgian semi-industrial property investment company Warehouses De Pauw to 30.02% on 31 August, confirming the family's position as the company's reference shareholder. In doing so, the De Pauw family increased their share in WDP to over 30% before a new Belgian law on takeover bids came into effect.
The Jos De Pauw family has said it increased its shareholding in the Belgian semi-industrial property investment company Warehouses De Pauw to 30.02% on 31 August, confirming the family's position as the company's reference shareholder. In doing so, the De Pauw family increased their share in WDP to over 30% before a new Belgian law on takeover bids came into effect.
The new legislation came into effect on 1 September and requires the reference shareholder in a company from then on to immediately make an offer for the remainder of the shares if it wishes to increase its share to over 30%. Speaking on behalf of the De Pauw family, CEO Tony De Pauw said that their increased involvement confirmed their 'rock-solid trust in WDP's future potential' and showed their will 'to remain the strategic reference shareholder in the closed-end investment company.'
