Cofinimmo rises on Aedifica's takeover offer

Aedifica NV

03/06/2025 08:38

** Shares in Belgian real estate investment trust Cofinimmo COFB.BR rise 2.4%, paring gains after rising as much as 3.5%, after it agreed to a takeover offer by healthcare real estate company Aedifica AOO.BR

** "We expect this merger to go through as we see strong support from investors following the discussions that we had recently," Jefferies says

** The exchange offer, to be launched on September 1, will give 1.185 new Aedifica shares for each Cofinimmo share

** Synergies are estimated at around 16 million euros ($18.29 million), which Jefferies says will bring the companies' EPRA cost ratios to a similar level

** "The current ratio is close to a net asset value (NAV) parity, which we expected," Jefferies adds

** Including Tuesday's rise, Cofinimmo has gained 38.4% YTD

** It is among top performers on the pan-European STOXX 600 index .STOXX

** Aedifica's shares are flat​

($1 = 0.8750 euros)

 (Reporting by Dimitri Rhodes)

 ((Dimitri.rhodes@thomsonreuters.com))