Vastned Retail to merge with Vastned Belgium.

Vastned Retail, a listed property company focusing on the property in the popular shopping areas, agreed to merge with Vastned Belgium, a commercial real estate investor. Financial terms were not disclosed. “This transformational transaction marks an important milestone in the conclusion of our strategic reorientation that we announced in 2023 in the context of the rising interest rates, increasing yields on retail real estate properties and the abolishment of the FII regime. Since announcement we have made very good progress on the strategic divestments with sales of approx. €126m around book values, and I am pleased with today’s announcement of the contemplated merger of Vastned Retail and Vastned Belgium. Following the transaction Vastned will offer all shareholders a more attractive investment proposition going forwardl,” Reinier Walta, Vastned Retail CEO.