Banimmo has announced today the result of the initial acceptance period of the
tender offer launched on 24 October 2018 by Patronale Life and closed on 8
November 2018. As a result, 60.1% of the outstanding shares were brought and
the offer is declared final. Consequently, Affine's 49.5% stake will be sold on
19 November 2018 for EUR18.6m, i.e. EUR3.3 per share (more details on the press
release of 12 July 2018).
This operation marks, for Affine, the definitive exit of Banimmo and the
Belgian market, in accordance with its strategy to concentrate its portfolio on
commercial property in France.
Affine is a property company specialising in commercial real estate. At the end
of 2017, it directly owned 45 buildings with a total value of EUR579, (excl.
transfer taxes) for a total surface area of 332,400 sqm. The Company owns
office properties (69%), retail properties (23%) and warehouses and industrial
premises (8%). Its assets are distributed more or less equally between Ile-de
France and other regions in France.
In 2003, Affine opted for French real estate investment trust (SIIC) status.
Affine's shares are listed on Euronext Paris (Ticker: IML FP/BTTP.PA; ISIN
code: FR0000036105). It is included in the CAC Mid&Small, SIIC and IEIF
indexes. Banimmo is also listed on Euronext.
To find out more: www.affine.fr. Follow our news feed on: