Amstelland NV and Multi Development Corporation NV expect to reach agreement regarding the merging of both companies, whereby Amstelland will acquire all MDC shares.
Amstelland has a leading position in the Netherlands as an area developer of houses, offices and office parks and city centres. MDC is active, on a European scale, as a conceptual developer of city centres, shopping centres with leisure facilities and offices and office parks.
With this intended acquisition, Amstelland effectuates its strategy of increasing its operations to a European scale, based on autonomous growth supported by acquisitions.
The acquisition will directly make a positive contribution to Amstellandâ€™s earnings per share. The acquisition price will be EUR 310 million, partly to be paid from Amstellandâ€™s own resources, and partly to be paid by the issue of a maximum of 31.73 million shares. Of these shares, a number of 20.66 million shares will be placed with the selling shareholders at an issue price of EUR 7.50 per share. A maximum of 11.07 shares will be financed through the capital market. In addition, 5.75 million warrants will be issued.
For more information please visit www.amstelland.nl.