C
ibus has acquired Forum Estates, a prominent owner and manager of grocery and daily goods properties in the Benelux region, as part of its strategy to expand its pan-European platform. The deal involves the acquisition of all shares and a significant portion of subordinated loan receivables valued at approximately EUR 219.9 million. The consideration will be settled through newly issued Cibus shares.

    The acquisition creates a leading platform for grocery and daily goods real estate in Northwest Europe, with a combined portfolio of around 606 properties valued at approximately EUR 2.286 billion. Matthias Maselis from Stibbe's real estate team praised the transaction process as seamless, citing excellent collaboration between the parties involved.

    A significant portion of Forum Estates' investors have already committed to exchanging their shares and subordinated loan receivables for newly issued Cibus shares. The transaction is subject to customary closing conditions, including approval by Cibus' board and an extraordinary general meeting, with a planned completion date in the first quarter of 2025.

    Stibbe acted as legal advisor on Benelux law aspects, collaborating with Roschier Advokatbyrå on Swedish law aspects. Van Lanschot Kempen provided financial advisory services, while EY supported tax, financial, and operational due diligence. CBRE conducted commercial due diligence, Sweco handled technical due diligence, and Vanbreda along with Lockton acted as insurance advisors. Pareto will serve as the listing agent for the newly issued Cibus shares.

    The Stibbe team was led by Matthias Maselis, Jan Peeters, and Florent Volckaert, drawing on expertise from various teams including Benelux real estate, corporate, finance, and tax.