Hertzel Habas
Habas Group negotiates deal with Dutch company
Israeli real estate company may buy Dutch company NSI, traded on Euronext market at total value of over 840 mil Euros, owning 170 assets yielding some 1.3 billion Euros
Habas Group, a leading Israeli real estate company has been holding negotiations regarding the purchase of control in the Dutch real estate company Nieuwe Steen Investments n.v. (NSI), however at this point, an agreement has not yet been reached.
In hopes of completing the deal, the Habas Group has contacted a leading American investment bank which is acting as an advisor in the negotiations, and is also interested in participating in the deal as a funding body.
The Dutch company NSI is traded on the Euronext stock market in Amsterdam for a total value of over 840 million Euros and owns about 170 profitable properties throughout Holland that yield some 1.3 billion Euros.
The company's profits in the first three quarters of 2006 amounted to a sum of 36.5 million Euros that were distributed as dividends throughout the period.
The Habas Group intends to bring together a number of international investors in this deal, while remaining the senior associate and manager.
The completion of the deal, if reached, depends on the completion negotiations, propriety inspections and various other proceedings including obtaining permits from the Dutch authorities, which could take a number of months.
Hertzel Habas, Deputy Chairman and CEO of the Habas Group said: "This deal is in line with the Habas Group's investment policy, which is seeking investments in quality properties and attractive business deals in the global real estate markets."
A few weeks ago the company reported the completion of deal to purchase four profitable assets in Switzerland at a financial investment of about NIS 630 million (about USD 140 million).
