BPI sells its holding in the companies developing the Oosteroever site in Ostend to the Versluys Group
The disposal of the shares held by BPI in the companies developing the Oosteroever site will allow the Versluys Group – whose shareholders are Bart Versluys and Marc Coucke – to take up whole ownership of the new residential development in the port of Ostend (each party previously held a 50% stake).
The disposal of the shares held by BPI in the companies developing the Oosteroever site will allow the Versluys Group – whose shareholders are Bart Versluys and Marc Coucke – to take up whole ownership of the new residential development in the port of Ostend (each party previously held a 50% stake). The acquisition of these shares will cost € 24,000,000. After seven years of productive and cordial collaboration, the Versluys Group is concluding this transaction in order to develop and market the “Oosteroever” site independently. PI sees it as an opportunity that will enable it to reinvest in various major urban development projects.
Jacques Lefèvre – CEO of BPI: “When we decided to get involved in the urban development of the city of Ostend in 2010 by taking part in two public private partnership (PPP) procedures – “Baelskaai” and “Vuurtorendok” – collaboration between the Versluys Group and BPI seemed a logical step. The Versluys Group had extensive knowledge of the local market. We possess expertise in a number of areas, such as experience of large‐scale urban development projects, including one on the coast (“La Réserve” in Knokke), the know‐how of our general contracting subsidiary MBG in the construction of high‐rise buildings and an extremely solid financial position thanks to the support of our publicly listed parent company CFE. The modernist vision of Bart Versluys and the capabilities of his team contributed to the success of the venture.”
Bart Versluys – CEO BouwGroep Versluys: “As CEO of the Versluys Group, I expressly wish to thank the BPI, CFE and Ackermans & van Haaren team for the many years of productive collaboration on the Oosteroever project. The success of this unique venture is primarily due to the vision, investment and enthusiasm of both parties. Irrespective of the fact that we are going our separate ways on the Oosteroever project, I have no doubt that the Versluys Group will gladly work with the multidisciplinary team of BPI and CFE again in future if the opportunity presents itself.”