On Wednesday, Immobel (Belgium) and Allfin Group (Luxembourg) announced the merger of the two companies under the Immobel brand; the merger takes effect from today following the notification of intent to merge made on 10 April.
The new organisation becomes the largest publicly-traded real estate company in Belgium with an expected market capitalisation of over €400 million and assets of over €920 million.
Olivier Bastin, CEO of Allfin Luxembourg, said "We welcome this merger. In going from three to six projects (Infinity Polvermillen, Centre Etoile, Kons, Route d'Esch and Differdange) for a total value of over €560 million, our position in the Luxembourg market is strengthened. Having now benefit from access to equity capital is also a guarantee of success for the financing of our future developments."
