Aedifica acquires 80% stake through a share swap offer, Cofinimmo's stock price drops

Investing.com - Aedifica announced that it has successfully gained control of Belgian real estate investment trust (REIT) Cofinimmo after the initial acceptance period of its share exchange offer, paving the way for the merger of the two companies.

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The Belgian REIT stated that during the initial acceptance period from January 30 to March 2, a total of 30,312,595 Cofinimmo shares were subscribed. As a result, Aedifica will hold 79.57% of Cofinimmo’s shares.

The company said that the threshold condition for the share exchange offer has been met.

Following the announcement, the stock prices of Cofinimmo and Aedifica fell by 5% and 3%, respectively.

The transaction is expected to close on March 10, at which point Aedifica will issue 35,920,425 new shares to Cofinimmo shareholders who accepted the offer. These newly issued shares will be entitled to full dividends for fiscal year 2025.

After the annual shareholders’ meeting on May 12, where the financial statements will be approved, dividends related to the new shares are expected to be paid starting May 19.

Due to high shareholder participation, Aedifica stated it will not reopen the share exchange offer. Instead, the company plans to proceed with the merger through an absorption merger of Cofinimmo, as previously outlined.

This merger was initially agreed upon in June 2025, aiming to create a leading European healthcare real estate investment trust as described by both companies.

Aedifica manages a portfolio of over 615 assets across multiple European countries, including Belgium, Germany, the Netherlands, the UK, Finland, Ireland, and Spain.

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