Reopening of Voluntary Public Takeover Bid in Cash for all Shares of Befimmo SA

Latest Regulatory Announcement

Alexandrite Monnet Belgian Bidco SA Acquires Control of 96.90% of Befimmo SA following Closing of the Voluntary Additional Acceptance Period and Reopens the Offer as a Simplified Squeeze-out on October 25, 2022. 

The final reopening of our public takeover bid in cash for all shares of Befimmo SA, the leading Belgian office REIT for €47.50 per share will commence on Tuesday October 25, 2022, at 9:00am CET and will close on 3 January 2023 at 5:00pm CET. Shareholders who have not yet accepted the offer will therefore be able to do so.

Alexandrite Monnet Belgian Bidco SA, an entity wholly controlled by one of Brookfield’s real estate private funds announced on October 7, 2022, that it has acquired control of 96.9% of Befimmo SA.

As the Bidder now controls more than 95% of the shares of Befimmo SA, it has exceeded the threshold required to launch a simplified squeeze-out offer. The Bidder will proceed with a final reopening of the offer for acceptance, which will have the effect of a simplified Squeeze-out and result in the delisting of Befimmo SA.

The offer was originally announced on February 25th, 2022.

Befimmo’s Management and Board of Directors support the offer and Brookfield will collaborate with the Management to create one of Benelux’ leading prime office real estate platforms. It aims to focus on proactive asset management, reinforcing Befimmo’s capabilities by capitalising on Brookfield’s best practices and global networks, and accelerating capex initiatives to support future growth.

The bidder is convinced that this objective is best achieved overtime anchored by Brookfield as a majority shareholder in the public markets or as a private company.

Brookfield is one of the world’s largest owners and operators of real estate with over $260 billion of real estate assets globally, and an office portfolio of over 15 million square meters worldwide. It is attracted to the high-quality portfolio of office and coworking spaces in Brussels and other prime cities. As such it seeks to support Befimmo as it navigates the current dynamic environment for office real estate.

For you, as a Befimmo shareholder, this offers a significant premium to Befimmo’s pre-offer trading levels and equity research analysts’ consensus estimates as well as an opportunity for immediate liquidity at a compelling valuation.

Full details of the offer are included in the prospectus and available on this website along with other details about the offer.  Should you have further questions, do not hesitate to contact us.