Banimmo, the listed Belgian property company and Patric Huon, the CEO of Foruminvest Belgium have successfully negotiated with the Foruminvest Group to acquire a majority stake in three Walloon shopping center developments in Verviers, Namur and Charleroi. The Foruminvest Group will still keep an interesting financial stake in the future results in these Belgian projects.
Immobilière Huon and Banimmo were assisted in the deal structure by the Belgian investment bankers, Bank de Groof. The new company, of which Immobilière Huon and Banimmo will be the shareholders, will operate, for the time being, under the name City Mall-Foruminvest.
Foruminvest in the Mall (shopping center management) and Forum TV (the TV channel for shopping centers), both belonging to the Foruminvest Group, will continue to be active and present in Belgium.
This transaction fits perfectly into the strategy of the Foruminvest Group to focus on Dutch projects and several large prime shopping center developments in Italy and Germany.
Immobilière Huon and Banimmo were advised by Linklaters, Nauta Dutilh and Bank de Groof and Foruminvest was advised by Allen & Overy.
Source: Foruminvest B.V.