|
|
|
|
 |
IEF Capital N.V. will not pursue a public offer for the outstanding shares of VastNed Retail N.V. More...IEF Capital announces successful completion of the Unibail-Rodamco transaction More...Consortium led by IEF Capital N.V. invited to meet with management board Vastned Retail N.V. More...Consortium led by IEF Capital N.V. prepares offer for real estate fund Vastned Retail N.V. More... More...Archive >Consortium led by IEF Capital N.V. prepares offer for real estate fund Vastned Retail N.V. | | 06-11-2007 | (INFORMAL TRANSLATION OF THE DUTCH) PRESS RELEASE A Dutch consortium led by IEF Capital N.V., a joint venture between Bouwfonds Asset Management and Inflation Exchange Fund (IEF), is preparing a public offer for all of the outstanding ordinary shares in VastNed Retail N.V. In order to ensure an orderly market, the consortium announces that it proposes to offer the shareholders an indicative price of € 70,00 in cash per ordinary share. This price represents a 23,6% premium above the closing price of 6 November 2007 and approximately a 14% premium above the latest reported net asset value per share. Stichting Pensioenfonds PGGM, with 20% the largest shareholder of VastNed Retail N.V., agreed with IEF Capital under certain conditions to support the intended offer and offer its shares in VastNed Retail N.V. under the contemplated offer. The consortium proposed VastNed Retail N.V. further to discuss the intended offer and to explore whether the intended offer could receive the support and recommendation from VastNed Retail's management board and supervisory board. The consortium expects to secure the requisite financing within a short period and expects its due diligence requirements to be limited in scope. In the past few years IEF Capital successfully closed various significant transactions including the successful public offer for Westersuyker N.V. in 2004 and the acquisition of the Maxeda (formerly: VendexKBB) real estate portfolio in 2005. The total value of IEF Capital's current real estate portfolio is approximately €€ 2.5 billion. Disclaimer This is a public announcement pursuant to the provisions of Article 5, paragraph 2 of the Decree on Public Takeover Bids (Besluit openbare biedingen Wft). This announcement and related information shall not constitute a public offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale in securities. Not for release, publication or distribution, in whole or in part, in or into the United States of America, Canada, Australia or Japan. This announcement includes certain "forward-looking statements". These statements are based on the current expectations of the consortium and are naturally subject to uncertainty and changes in circumstances. For further information please contact: IEF Capital N.V. Drs. G. Grossman Oranje Nassaulaan 25 1075 AJ AMSTERDAM Tel: + 31(0)20-5712008
|
|
|
