Directed Share Issue to
Catena
Financial AdviserKempen & Co acted as Financial Adviser of Catena in the directed share issue to WDP, raising gross proceeds of c. SEK 2,169m and forging a new long-term and strategic partnership
Transaction highlights
- WDP, through a wholly-owned subsidiary, subscribed to a directed issue of 4,122,676 shares in Catena, obtaining 9.09% of the shares and voting rights in Catena
- Through the directed share issue, the two parties forge a strategic cooperation to enlarge their geographical coverage to clients, stimulate client integration and share knowhow in pursuit of improved competitive positions
- The price was SEK 526.00 per share, which represents a premium of 10bps compared to the latest closing price of SEK 525.50, resulting in SEK 2,168.5m or €206.7m in gross proceeds for Catena
- Catena intends to use the net proceeds to finance investments in property acquisitions, in accordance with recently announced acquisitions, and property development projects whilst maintaining the Catena’s stable capital structure
- WDP envisages a stake of 10% of the shares and voting rights in Catena in the foreseeable future
- Subject to decision by the Catena AGM, WDP will obtain a Board seat in Catena, allowing Mr. Joost Uwents, CEO of WDP, to be elected as new ordinary Board member
- Kempen & Co acted as financial adviser to Catena
Company description
- Catena is a listed logistics real estate company with strategically located properties supplying the Scandinavian metropolitan areas
- As of 31 December 2021, the properties had a total value of SEK 23.4b
- Catena is listed on NASDAQ Stockholm, Large Cap, with a market capitalisation of c. SEK 21.7b as per 28 March 2022
- WDP develops, invests and leases storage and distribution space for its own account and always maintains a long-term perspective
- WDP's property portfolio amounts to around 6 million m² of logistics assets with a fair value of circa €6.0b as of 31 December 2021 and is spread over more than 250 sites at prime logistics locations in Belgium, France, the Netherlands, Luxembourg, Germany and Romania
- WDP is listed on Euronext Brussels with a market capitalisation of €7.0b as per 28 March 2022
Kempen & Co Real Estate credentials
- Kempen & Co has advised on more than €125b real estate transactions across 15 different countries in Europe
- This transaction underpins our leading position in the European logistics real estate sector, following successful transactions including the €1,226m public take-over of Deutsche Industrie REIT by CTP in 2022, the €330m (non-listed) equity raise for Aquila Capital Southern European Logistics Fund in 2022, SEK 1.08b (listed) equity raise for Catena in 2021, €480m (listed) equity raises for Tritax EuroBox in 2021, the €948m Initial Public Offering of CTP in 2021, a €200m (listed) equity raise for WDP in 2021 and the €100m (non-listed) equity raise for the Gateway Fund of Cairn Real Estate in 2020
Contact
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Transactions
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Public offer for
Extension of Credit Facilities
Sale of existing shares via club deal
Development Financing for The Ensemble
Sale of
To
Convertible Bonds & Shareholder commitment
Sustainability Linked Unsecured Revolving Credit Facility
Directed share issue via club deal
Acquisition of Almere Centrum
Accelerated Bookbuild Offering
PIPE & Rights Issue
Rights Issue
Directed Share Issue to
Capital Increase & Spin-out
Global Accelerated Bookbuild Offering
to
Selling shareholder
Public takeover of
Non-listed equity capital raise of the Aquila Capital Southern European Logistics Fund
Sale of
Block Trade in Molecular Partners Shares
Real Estate Acquisition Financing
Undisclosed
by
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Initial Public Offering
US Public Offering
Placing
Capital Increase
US Public Offering
Sale to
Portfolio company of
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Mandatory Convertible Bond Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Capital increase
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
on Nasdaq
Initial Public Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Capital increase
Private Placement
US Public Offering
Initial Public Offering
US Public Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
Debt financing
US Public Offering
US Public Offering
Green Revolving Credit Facility
Sale to
Combination with
Accelerated Bookbuild Offering
Sale to
Accelerated Bookbuild Offering
Non-listed equity capital raising
Sale of majority stake to
Secondary Sell-Down in Calliditas Therapeutics
Capital increase
Initial Public Offering
Capital Increase 
European FinTech
IPO
Accelerated Bookbuild Offering
Private Placement of shares in
Bridge financing
Undisclosed
Initial Public Offering
Rights issue
Accelerated Bookbuild Offering
US Public Offering
Accelerated Bookbuild Offering
US Public Offering
Merger with Arya Sciences Acquisition Corp. and subsequent Nasdaq listing
acquisition of
Initial Public Offering
Private Placement
Private Placement
Accelerated Bookbuild Offering
Global Accelerated Bookbuild Offering
Accelerated bookbuild offering
Sale of 456 unit landmark residential project in prime location The Hague
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public offer for
Sale and capital increase
and
Sale of Dutch residential development to
Global Offering
Accelerated Bookbuild Offering
Public takeover of
Sale of
to
Accelerated Bookbuild Offering
Capital increase
Global offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
Rights issue
a subsidiary of
Sale of German DIY portfolio to REDOS acting on behalf of Union Investment
Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
Three-day bookbuild offering
Rights issue
Acquisition of
Initial Public Offering
Accelerated Bookbuild Offering
Block trade in argenx shares
a subsidiary of
Sale of German retail portfolio to a real estate private equity firm
Sale of Dutch residential portfolio managed by
on behalf of investors to
Sale of
to
Bencis Capital Partners
Increase of stake in
Initial Public Offering
Acquisition of
Acquisition of
Acquisition of
Capital increase
Block trade in ERYTECH shares
Initial public offering
Accelerated bookbuild offering
Initial public offering
Acquisition of
Block trade in Boskalis shares
US public offering
US public offering
Sale to
US public offering
Sale of Rabo Bouwfonds CIF datacenter portfolio
to
Initial public offering
Acquisition of former Delta Lloyd portfolio from
Rights issue
Public offer for
Fundraise
Accelerated bookbuild offering
Public offer by German ADLER Real Estate
for Israeli
Public offer by German Vonovia
Sale of Dynamic Portfolios
Public offer by Spanish Colonial
for Spanish Axiare Real Estate
Accelerated bookbuild offering
Sale of 3 German residential portfolios by
to consortium of buyers
Accelerated bookbuild offering
US public offering
Accelerated bookbuild offering
Secondary offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Acquisition by
of
Acquisition of
by
Private placement
Acquisition by
of
Dutch wealth management activities
Acquisition by
of
from
Accelerated bookbuild offering
Initial public offering on NASDAQ
Share buy-back program
Acquisition by
of
Accelerated bookbuild offering
Secondary placement of 9.4% stake in
Public offer by
for
Public offer by German Vonovia
For Austrian Conwert
Secondary placement of 15% stake in
Formation of Passoã joint venture with
Accelerated bookbuild offering
Rights issue
Sale of 19% stake in
Accelerated bookbuild offering
Acquisition of the North American rights to RUCONEST by
from
Acquisition by
of
from
Strategic study
Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
Strategic study
Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Refinancing
Initial Public Offering
Initial public offering
Rights issue
On behalf of
Acquisition of
Rights issue
Acquisition of French shopping centre portfolio by Wereldhave
From French-Dutch Unibail-Rodamco
Refinancing
Acquisition of the cancer immunotherapy program by
from
Initial public offering
Initial public offering
Public offer by French Groupe SMABTP
For French Société de la Tour Eiffel
Acquisition of
by
Secondary listing on Euronext Paris
Initial public offering
Acquisition by
of
Accelerated bookbuild offering
Convertible bond issue
Fairness opinion in the public offer by
Sale of Hercules business to ZEG
Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
undisclosed PE firm
from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
Initial Public Offering
Equity issue
Refinancing
Sale of majority of shares to
Accelerated bookbuild offering
Initial public offering
Secondary offering
Accelerated bookbuild offering
Public offer by
for
Private placement
Public offer by
for
Rights issue