Announced
Financials
Sources
Tags
Pending
Real Estate Holding and Development
Acquisition
Majority
Germany
Friendly
Single Bidder
real estate developer
Private
Synopsis
IMMOBEL, Belgian property development firm, agreed to acquire a 89% stake in Europa-Allee Wohnen, owner of the EDEN project planned for the center of Frankfurt. Financial terms were not disclosed. This acquisition in the German market is in line with the announcements on the intensification of the Group’s international diversification. “The performance of the German economy in relation to the European situation makes this country naturally attractive in the context of the geographical diversification strategy we have announced. This acquisition demonstrates IMMOBEL Group’s interest in Germany, where we are seeking more projects, to create, in the medium term, a development platform similar to those we have deployed in the countries in which we operate,” Marnix GALLE, IMMOBEL Executive Chairman.
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