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

We are pleased to announce the opening of our voluntary and conditional public takeover bid in cash for all shares of Befimmo SA, the leading Belgian office REIT.

Following the announcement of an Offer on February 25th,  Alexandrite Monnet Belgian Bidco SA, an entity wholly controlled by one of Brookfield’s real estate private funds, has secured approval to launch its all-cash offer to acquire Befimmo SA for €47.50 per share.

The Offer has the support of Befimmo’s two largest shareholders AXA IM Alts, acting on behalf of AXA Belgium SA, and AG Real Estate SA, acting on behalf of its affiliate AG Finance SA, who have provided soft irrevocable undertakings to tender all and part of their shares, enabling Alexandrite Monnet Belgian Bidco SA to acquire approximately 15.2% of the outstanding shares of Befimmo.

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 $250 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 recent 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.