This 28 June 2010, Befimmo received from Société Vivaqua an irrevocable tender offer for its Empress Court building near completion for a net price of 51 million. Befimmo has accepted this offer. However, a provisional sale agreement in due form has yet to be drafted and finalised between the two parties.
The building, located at Boulevard de l'Impératrice 17-19, 1000 Brussels, has been part of Befimmo's property portfolio since it took over the Cibix Sicafi in 2001. Since the departure of the tenant - Belgacom - in October 2008, Befimmo has had major renovation works undertaken in the building due to be completed early in 2011.
This disposal, once finalised, is expected to generate a result of roughly 0.70/share.
This transaction is further evidence of Befimmo's active management of its real estate portfolio.