Leasinvest Real Estate SCA (ENXTBR:LEAS) agree to acquire Extensa Group SA from Ackermans & Van Haaren NV (ENXTBR:ACKB) on May 12, 2021. The new structure will have a consolidated balance sheet total of approximately € 1.9 billion. In the context of this proposed transaction, 100% of the shares of Extensa would be contributed by AvH to the Company.

Additionally, it will be proposed to give up the BE-REIT status and to convert the Company into a limited liability company with a (collegial) board of directors under the CCA (Code of Companies and Associations), whereby the management of the Company will be internalized by means of a contribution in kind of the shares of Leasinvest Real Estate Management NV/SA, the statutory manager of the Company (“LREM” or the “Manager”), which is currently a 100% subsidiary of AvH. Transaction is subject to approval of the Board of Directors of Leasinvest Real Estate, (ii) the completion of the due diligence with regards to Extensa, (iii) the obtaining of a tax ruling regarding the exit from the BE-REIT status and (iv) an agreement with lenders regarding the financing of “Leasinvest 2.0”. In view of the fact that, AvH is a shareholder of LRE, Extensa and LREM, the Board of Directors of the Manager will KRIS VERHELLEN CEO EXTENSA GROUP.

As of July 19, 2021, the transaction was approved by the shareholders of Leasinvest Real Estate. As of September 20, 2021, Leasinvest Real Estate and Extensa announced the new name of their integrated property group as Nextensa. Lars Van Bever, Wouter Claes, Carl Clottens, Fréderic Van Campe, Eva Milants, Kelly Moens, Sofie Baveghems and Christophe Janssens of Eubelius acted as legal advisor to Leasinvest Real Estate SCA.