The shareholders of Nieuwe Steen Investments (NSI) have (with a vast majority) approved the merger with VastNed Offices/Industrial N.V. (VastNed O/I) during its Extraordinary General Meeting of Shareholders held on Friday (October 7, 2011), as well as certain proposed changes in the articles of association of NSI to be effectuated upon the merger.
With the approval from NSI's shareholders, the main conditions for completion have been fulfilled. Earlier this year, on August 25, the shareholders of VastNed O/I already approved the merger. VastNed O/I and NSI expect to complete the merger on October 14, 2011 in accordance with the indicative timetable below. Absent unforeseen circumstances, the last trading day of the VastNed O/I shares will be on Monday October 10, 2011.
Together, VastNed O/I and NSI will be a leading Dutch mixed real estate investment fund with a portfolio of 2.3 billion. The combination is better equipped to be successful in the Dutch office market and at the same time take advantage of the more positive momentum in the Dutch retail market.
Source: VastNed O/I