WDP Merges with French rival Argan

Warehouses De Pauw (WDP), whose main shareholder is one of the richest families in Belgium, will merge with French rival Argan, a transaction that will create a European real estate and logistics giant, valued at over EUR 13 billion.

The enlarged group will be the largest player in the sector in France, Belgium, Luxembourg and the Netherlands. WDP owns a portfolio of industrial and logistics spaces in Romania valued at over 1.6 billion euros and a total leasable area of ​​over 2 million square meters. The portfolio is spread over 80 locations and covers all regions of the country.

If approved by the companies’ shareholders, the transaction will mark Argan’s entry into Romania. Argan is the largest logistics REIT in France, with a portfolio of 3.8 million square meters in over 100 warehouses, valued at EUR 4.1 billion.

Source: Profit.ro