Leading European position for Amstelland through MDC takeover

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 Amstelland’s earnings per share. The acquisition price will be EUR 310 million, partly to be paid from Amstelland’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.

(source: Amstelland)

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