Business combination with Extensa Sample Clauses

Business combination with Extensa. In addition, the Company wishes to enter into a business combination with the real estate developer Extensa by means of a contribution in kind of the Extensa shares in the capital of the Company. Extensa is a real estate developer with a long track record and is a 100% subsidiary of AvH. The most important development projects are the developments on the Tour & Taxis site in Brussels and Cloche d'Or in Luxembourg (the latter through the participation (50%) of Extensa in Xxxxxxxxx PAP SA). In addition, Extensa owns a land bank and holds a number of real estate assets for long-term rental, the majority of which are located on the Tour & Taxis site. The Manager believes that a business combination with Extensa can ensure that the modified strategy of the Company can be implemented in a fast and efficient manner. Indeed, by combining the real estate portfolios of the Company and Extensa and the development pipeline of Extensa, as well as the expertise and track record of both teams, the Company can quickly evolve into a real estate investor and developer with a unique and diversified business profile, combining stable recurring flows from the management of an iconic sustainable real estate portfolio with a high-quality tenant base, and capital gains from the sale of residential assets and office buildings. A business combination with Extensa would lead to further diversification of the Company's portfolio into residential and office developments. The investment focus of the combined entity would be on (i) core plus buildings (combining office, retail and/or residential use) with a clear potential to create added value through repositioning and redevelopment and (ii) sustainable projects aimed at creating a better society (e.g. climate adaptable buildings and mobility solutions) to cope with the aforementioned developments. Pursuant to Article 30 of the BE-REIT Act, a regulated real estate company may not hold more than 20% of its consolidated assets in real estate or in assets constituting a single "asset base" (i.e. one or more fixed assets or assets that must be considered as a single risk). The combination of the investment portfolios of the Company and Extensa could lead to this percentage being exceeded, given the real estate that both companies hold on the Tour & Taxis site in Brussels. Because of this rule, combined with the prohibition on building promotion in the BE-REIT Act (Article 41 BE-REIT Act), a combination of the activities of the Company and ...
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Related to Business combination with Extensa

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