Banimmo reinforces its position in Montea’s shareholding

Banimmo has acquired, over the counter, 259,279 Montea shares at a share price of 30.11 €. This price corresponds also to Montea’s net asset value per share on December 31, 2007.

Banimmo has concluded this acquisition in the framework of the broader joint acquisition with Montea of the Unilever site, a transaction that has been concluded in December 2007 and completed on March 25 with a capital increase of Montea.

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.

After this transaction, Banimmo will hold 19.2% of the capital of Montea.

Banimmo intends continuing to play, beside the family group, an active role in the development of Montea.

Banimmo wishes to position itself, together with Montea, in the study of mixed real estate portfolios composed of offices and logistics assets, and hopes realizing other transactions similar to the acquisition of the Unilever portfolio.

The share price of Montea at closing on 27 March was 32.60 €.

source : Banimmo