Vastned Offices/Industrial Rises After Resuming Merger Talks With Nieuwe
Vastned Offices/Industrial NV, the Dutch property-investment company, rose by the most in four months in Amsterdam trading after saying it’s resumed merger talks with Nieuwe Steen Investments.
Vastned Offices rose as much as 5.9 percent to 12.68 euros, the biggest intraday gain since Dec. 13, and Nieuwe Steen rose 0.9 percent to 14.83 euros. Rotterdam-based Vastned Offices has a market value of about 240 million euros ($347 million) and Nieuwe Steen, based in Hoorn, Netherlands, is valued at 645 million euros.
Vastned Offices “has resumed discussions concerning a possible combination between VNOI and Nieuwe Steen Investments,” according to a statement released today.
Vastned Offices said in December that it had been approached by Nieuwe Steen to combine through a share swap, then rejected an offer in February. There’s no guarantee a merger will occur, according to today’s statement.
Vastned Offices invests mainly in offices in the euro zone, focusing on the Netherlands, Belgium and Germany, according to its website. Nieuwe Steen’s portfolio includes offices and retail properties in the Netherlands and Switzerland.
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