- About Befimmo
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- Befimmo Property Services
- Annual Financial Report 2013
Fedimmo SA is an Institutional Sicafi and a 100% subsidiary of Befimmo.
In December 2006, Befimmo acquired a majority holding of 90% of the shares in SA Fedimmo, sold by the Belgian Government. Fedimmo’s portfolio comprises office buildings let to the Belgian Government. They house the Federal Public Services (Ministries of Finance and Justice).
In October 2012, Befimmo purchased the last 10% of Fedimmo’s shares that it did not own yet. With this transaction, Befimmo now owns all Fedimmo shares and is now the sole beneficiary of Fedimmo's results.
The main features of the Institutional Sicafi are:
- a company controlled by a Public Sicafi;
- registered shares held by institutional or public investors;
- no requirement for diversification or debt ratio (consolidated at the level of the Public Sicafi);
- compulsory distribution of a dividend at a minimum of 80% of the results;
- jointly or solely controlled by a Public Sicafi;
- sole purpose of investing in real estate;
- no obligation to appoint a real-estate expert, the real-estate assets being valued by the expert of the Public Sicafi;
- statutory accounts prepared in accordance with IFRS standards (same accounting scheme as the Public Sicafi);
- strict rules regarding conflicts of interest;
- subject to FSMA control.