On 18 December 2024, Cibus announced that it contemplates to acquire all shares and a sufficient percentage of the subordinated loan receivables in Forum Estates, a Benelux-based owner and manager of grocery and daily goods properties with a portfolio of 149 properties and an underlying property value of approximately EUR 508 million. On 14 January 2025, Cibus' extraordinary general meeting resolved to authorize Cibus' board of directors to decide on an issue of new shares as consideration in connection with the Transaction.

 

Cibus has today, following approval by the board of directors, entered into a binding agreement to acquire Forum Estates with shareholders holding in total more than 65 percent of the shares in Forum Estates. Upon Cibus and the shareholders of Forum Estates entering into the binding agreement, Forum Estates' shareholders exercised the drag-along provision in Forum Estates' articles of association, which entails that Cibus will acquire 100 percent of the shares in Forum Estates.

 

The completion of the transaction remains conditional upon customary closing conditions being fulfilled or waived by Cibus, including that lenders of a total of at least 90 percent of the outstanding subordinated loan receivables in Forum Estates undertake to contribute their receivables to Cibus. Contingent upon these closing conditions, completion of the transaction is expected in the first quarter of 2025.