Banimmo :Evolution of Urbanove Shopping Development
16 September 2016 - 3:45PM
Banimmo has been informed that the
group Urbanove, in the framework of the judicial reorganization
procedures granted to it and its subsidiaries, has initiated
discussions with several potential investors for the
recapitalization or the disposal of the projects in Verviers and
Namur.
The negotiations will continue in
order to be able to retain as soon as possible the most favorable
offering for the group, and to allow to specify the financial
impact of this offering on the different parties involved. Banimmo,
owner of 44% of the shares at Urbanove, currently holds a mezzanine
loan towards the group, the balance of which amounted to
€ 25.7 million in accounts of 30 June 2016.
Based on the different information
elements in its possession, the board of directors of Banimmo
anticipates that an additional provision on this mezzanine loan
will have to be taken this year and will inform the market of the
amount to be taken as soon as a global agreement between de
candidate investors, the creditors and the associates of the
group will have been reached.
For more information, please
contact:
Banimmo
Patrick
Mertens
Cedric De Laet
Lenneke Marelaan 8
CEO
CFO
1932
Zaventem
Tel.: +32 2 710 53
11
Tel.: +32 2 710 53 11
www.banimmo.be
patrick.mertens@banimmo.be
cedric.delaet@banimmo.be
About
Banimmo
Banimmo stands out as a specialized player capable
of producing or transforming a real asset meeting the requirements
and the highest standards of institutional investors, as well as
developing built-to-suit projects meeting the occupants'
needs.
This competence is applicable to both the office
building sector (in which Banimmo is an historic player) and the
retail segment or niche segments (hotels, nursing homes and so
on).
The company has around 30 employees. The total
value of the real-estate portfolio was €359 million as of the end
of June 2016. Belgium constitutes the predominant market, with 63%
of the portfolio in terms of market value. France represents a
little more than 37% of Banimmo's portfolio. The portfolio is
continually evolving as a result of ongoing repositioning and the
high rotation of the assets. The French real estate company Affine
owns 49.5% of the company.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Banimmo via Globenewswire
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