GlobeNewswire by notified

Nextensa sells the Titanium site in the Grand Duchy of Luxembourg to Codic, for 110 million euros

Share

PRESS RELEASE

Brussels, 29 December 2022, 5.40 PM


Nextensa sells the Titanium site in the Grand Duchy of Luxembourg to Codic, for 110 million euros


Codic is a Belgian real estate player operating in Belgium, Luxembourg, France, Spain and Hungary. In November 2021, Nextensa signed an agreement with Codic to sell 100% of the shares of the Luxembourg company GK5 Sàrl, owner of the Titanium site in the Cloche d'Or district, under conditions precedent. The effective transfer of the shares took place today. The total investment reaches 110 million euros.

With this sale, the real estate investor and developer Nextensa realises a significant capital gain in the last quarter of 2022. Furthermore, the rental income from the Titanium building on the site - representing approximately 2.6 million euros in 2022 - is still contributing fully to this year's net result.

« The sale of this site is part of Nextensa's debt reduction strategy and provides a significant capital gain that will have a strong positive impact on the 2022 results. »
- Michel Van Geyte, CEO of Nextensa

The Titanium site is located on the west of the Cloche d'Or district in the city of Luxembourg. This new urban district is the result of a long-term urban planning process, which originated from the southward expansion strategy of the Luxembourg capital. Today, the Cloche d'Or is being developed as a sustainable, hyper-connected, mixed-use neighbourhood. A place where quality of life is crucial. With the acquisition of the Titanium site, Codic strengthens its presence in this innovative environment.

« We are pleased to have reached a closing with Nextensa to acquire this site in the Cloche d'Or district, located between the Route d'Esch and Avenue Guillaume Kroll. We will develop a large-scale project with strong architectural, environmental and social features. This acquisition also marks the first success of our new department Codic Invest, which has managed to raise significant funds from investors, together with Bank DegroofPetercam. Through this new business activity, we offer our financial partners the possibility of investing alongside us, benefiting from our thirty years of Luxembourg experience and our know-how, all in a perfect alignment of interests. » - Thierry Behiels, CEO of Codic International

Codic has an ambitious project to redevelop this logistics site of some 3.3 hectares. The group wants to transform this industrial site into a multifunctional complex that integrates the environmental and social criteria of its CSR-policy. This mixed development will include offices, services and a hotel.

The reconversion of an industrial site is not a first for Codic in Luxembourg. The former Ford garages and the AEG Siemens site on the Kirchberg Plateau were successfully developed as part of The Square and K2 projects.


About Nextensa

Nextensa NV/SA is a mixed real estate investor and developer. The company's investment portfolio, which is divided between the Grand Duchy of Luxembourg (46%), Belgium (41%) and Austria (13%) and has a total value of approximately 1.35 billion euros as at 30/09/2022. As a developer, Nextensa is mainly active in the design of large urban developments. At Tour&Taxis (a development of more than 50,000 m²) in Brussels, Nextensa is building a mixed real estate portfolio consisting of a revaluation of emblematic buildings and new constructions. In Luxembourg (Cloche d'Or), it is working in partnership on a major urban extension of over 400,000 m² comprising offices, shops and housing. The company is listed on Euronext Brussels and has a market capitalisation of €541,1 million (on 30/09/2022). For more information, please visit www.nextensa.eu.

About Codic

CODIC has been a passionate property developer for over 50 years. The group focuses its developments on office, retail and residential projects. Each of its projects is characterised by the creation of pleasant living spaces. The fundamental principles of CODIC are a strong architectural identity, the quality of planning and materials, the use of high-level technology, careful landscaping and a commitment to sustainable development in all projects. CODIC is developing its know-how throughout Europe: in Belgium, France, the Grand Duchy of Luxembourg, Hungary and Spain. CODIC has been present in Luxembourg since 1989 and has already developed nearly 250,000 m² in Luxembourg. For more information, please visit www.codic.eu


For more information :

Michel Van Geyte
Chief Executive Officer Nextensa
+32 3 238 98 77
michel.van.geyte@nextensa.eu

Thierry Behiels
Chief Executive Officer Codic International
+32 2 663 20 52
t.behiels@codic.eu

Attachment

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

International Petroleum Corporation Updated Share Capital31.1.2023 21:30:00 CET | Press release

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO)reports the following, in accordance with the Swedish Financial Instruments Trading Act: Following the cancellation of738,243 common shares repurchased by IPC under the share repurchase program,the total number of issued and outstanding common shares of the Corporation is 136,089,756 common shares with voting rights as atJanuary 31, 2023, of which IPC holds71,416 common shares in treasury. International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol "IPCO". For further information, please contact: Rebecca Gordon VP Corporate

Nokia Corporation: Repurchase of own shares on 31.01.202331.1.2023 20:00:00 CET | Press release

Nokia Corporation Stock Exchange Release 31 January 2023 at 21:00 EET Nokia Corporation: Repurchase of own shares on 31.01.2023 Espoo, Finland – On 31 January 2023 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL261,4854.33CEUX19,9384.34AQEU23,7644.33TQEX12,8134.34Total318,0004.33 * Rounded to two decimals On 3 February 2022, Nokia announced that its Board of Directors is initiating a share buyback program under the authorization granted by Nokia’s Annual General Meeting on 8 April 2021 to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The second phase of the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 5 April 2022 started on 2 January 20

GA-ASI's Eaglet Takes Its First Flight31.1.2023 19:00:00 CET | Press release

SAN DIEGO, Jan. 31, 2023 (GLOBE NEWSWIRE) -- General Atomics Aeronautical Systems, Inc. (GA-ASI) flew a new survivable Air-Launched Effect (ALE) for the first time as part of a flight demonstration based out of the Dugway Proving Grounds, Utah, on Dec. 8, 2022. The ALE, known as Eaglet, was launched from a U.S. Army MQ-1C Gray Eagle Extended Range (GE-ER) Unmanned Aircraft System (UAS). The Eaglet flight was jointly funded by GA-ASI and the U.S. Army Combat Capabilities Development (DEVCOM) Army Research Laboratory (ARL) and Aviation & Missile Center (AvMC). "The first flight of the Eaglet was an important milestone for the GA-ASI/U.S. Army team," said GA-ASI President David R. Alexander. "Eaglet is intended to be a low-cost, survivable UAS with the versatility to be launched from a Gray Eagle, rotary-wing aircraft, or ground vehicles. It enables extended reach of sensors and increased lethality while providing survivability for manned aircraft." Eaglet fits into the 'ALE Large' catego

Changes to Vallourec’s management team31.1.2023 18:41:38 CET | Press release

Changes to Vallourec’s management team Meudon, France, 31January 2023 – As part of its "New Vallourec" plan, led by Philippe Guillemot, Chairman and Chief Executive Officer, the Group has developed a three-region organization (North America, South America, and Eastern Hemisphere) to simplify and optimize the operations. This new organization aims at making the Group more efficient and more agile, closer to its customers, and to enhance its industrial performance, through two export bases, Brazil, and Asia. This new organization has led to changes in its Executive Committee, effective February 1, 2023: - Laurent Dubedout is appointed Senior Vice-President, Business Line OCTG, Services and Accessories, Group & Eastern Hemisphere and joins the Executive Committee. - Jacky Massaglia is appointed Senior Vice-President Business Line Project Line Pipe and Process and joins the Executive Committee. - Philippe Carlier, who was SVP Technology and Industry, becomes SVP Group Industry and Eastern