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

Latest Regulatory Announcement

AG Finance tenders its remaining shares (3.5%) in further support of Alexandrite Monnet Belgian Bidco SA’s takeover bid for Befimmo

The voluntary 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 Monday August 29, 2022, at 9:00am CET and will close on 30 September 2022 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 July 12, 2022, that it has acquired control of 84.94% of Befimmo SA and that it would voluntarily reopen the offer, which is now unconditional.

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.