Dutch retail property owner Vastned Retail and its Belgian branch Vastned Belgium will become one company, headquartered in Antwerp. The simplified organisation, starting on 1 January 2025, should be more cost-efficient.
Active in four countries
The merged company will be called Vastned and headed by Belgian Sven Bosman as CEO, the company confirmed in a press release on Thursday morning. As a single company, Vastned aims to become a more interesting profile for stock market analysts. The new structure also counts on an annual cost synergy of 2 to 2.5 million euros.
The decision is not very surprising: the property owner has been considering delisting its Belgian branch since 2018. Vastned Retail holds 66 % of Vastned Belgium’s shares, but was unable to fully take over the company. Now the reverse is happening: the – financially healthier – Vastned Belgium is taking over its Dutch parent company Vastned Retail.
Vastned owns 262 retail properties in top shopping cities in Belgium, France, the Netherlands and Spain, totalling 72.1 million in gross rental income in 2023.
