Immobel: merger with Allfin. Valuation: upside of 32%
Historic information on the 2 merging companies and on the merger details. Regression analysis based on the pipeline and the financial performance targets of the group.Â
Compagnie Immobiliere de Belgique SA (Immobel) is a Belgium-based company active in the real estate development sector. The Company operates in three lines of business in Belgium, Luxembourg and Poland, such as office properties, the residential sector and land banking. Its clients include: the state, the European Union (EU) and/or institutional investors for office complexes; private clients for residential property and land purchases, as well as private clients looking to invest in housing. The Company's main projects in Belgium include Belair, Black Pearl, Parc Seny, Gateway, Bella Vita and Chastre Rue Du Chene. Its main projects in Luxembourg include Westside Village, Green Hill and Galerie Kons. Finally its main projects in Poland include Cedet, CBD One and Okraglak.
Gert De Mesure (Bvba Demes) has more than 25 years experience in financial markets, of which more than 20 years in buy/sell-side research (Bank Delen, Delta Lloyd Securities and as an independent analyst). He is specialised in Belgian small- and mid-caps, as well as in Belgian REITs.
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