Vastned

Sole Financial Adviser

Van Lanschot Kempen acted as Sole Financial Adviser to Vastned Retail in the €1.3 billion reverse merger with Vastned Belgium

Transaction highlights

On 1 January 2025, Vastned Retail (formerly listed on Euronext Amsterdam) and Vastned Belgium (listed on Euronext Brussels) completed the reverse cross-border legal merger in which Vastned Retail merged into its 65.5% subsidiary Vastned Belgium
The combined company is now named ‘Vastned’, is headquartered in Belgium and listed on Euronext Brussels and Euronext Amsterdam
Former Vastned Retail shareholders were allotted 0.839 shares in the post-merger company for each outstanding share in Vastned Retail, based on the adjusted rolled-forward EPRA NTAs per share as of year-end 2024
The merger is the result of the strategic reorientation initiated by Vastned Retail in 2023 in light of changing market conditions and the abolishment of the Dutch FII regime, and is expected to decrease overall costs and resolve Vastned’s sub-optimal corporate structure with two listed entities
The merger was unanimously supported by the Supervisory Board and Executive Board of Vastned Retail as well as the Independent Directors of Vastned Belgium
The pre-merger shareholders of Vastned Retail and Vastned Belgium approved the merger during their respective EGMs, with significant majorities of 99.9% and 100% respectively
Van Lanschot Kempen acted as Sole Financial Advisor to Vastned Retail

Company description

Vastned is a listed European retail property company with assets in the Netherlands, France, Spain and Belgium. The company focuses on the best property in the popular shopping areas of selected European cities with a historic city centre where shopping, living, working and leisure meet, with a strong tenant mix of international and national retailers, food & beverage entrepreneurs, residential tenants, and office tenants. Vastned’s property portfolio has a value of €1.3 billion as of the initial announcement of the transaction.

Background Van Lanschot Kempen European Real Estate

Van Lanschot Kempen has advised on more than €105 billion in real estate transactions across 15 different countries in Europe in the last 10 years
Since 2020 to date, Van Lanschot Kempen has advised on more than 150 transactions across different countries, representing a total deal value of over €33 billion in a challenging and unprecedented environment
Van Lanschot Kempen is the most active Dutch investment bank in public transactions, advising on six transactions in the Netherlands since 2019
The transaction underpins Van Lanschot Kempen’s unique position in Benelux real estate and retail property, having advised on transactions of more than €9 billion with Benelux real estate companies and more than €2 billion with retail property companies since 2020

Contact

Thomas ten Hoedt

Mail Thomas ten Hoedt

Mark van Laere

Mail Mark van Laere