London—Dentons has advised VGP NV, a leading European provider of high-quality logistics and semi-industrial real estate, on its €200 million Rule 144A/Regulation S placement of new ordinary shares via an accelerated bookbuild offering to institutional investors. The new shares account for approximately 10.8% of the company's outstanding shares on completion of the offering, and priced at a discount of 4.58% to the pre-announcement share price. The shares are listed on Euronext Brussels and the Prague Stock Exchange. The transaction was announced on 21 April 2020, and the new shares were issued on 23 April 2020.

VGP will use the net proceeds from the capital increase to further increase its financial purchasing power and strengthen its shareholders’ equity in order to finance the investment pipeline and to be able to benefit from additional investment opportunities.

VGP is a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP is present in twelve European countries, including Germany, Czech Republic, Spain, Netherlands and Romania, both directly and through its joint ventures (with Allianz Real Estate).

J.P. Morgan Securities plc and KBC Securities NV acted as Joint Global Coordinators and Joint Bookrunners for the transaction, and Belfius Bank NV/SA acted as Joint Bookrunner

Martijn Vlutters, Vice President for Investor Relations at VGP, commented "It was a pleasure working together with Dentons again, and we appreciate very much the efficient and smooth process throughout the transaction."

Dentons' London-based US securities partner Cameron Half, who advised VGP on the offering, said, "We are pleased to have supported our client VGP on the successful completion of the equity raising which allows it to further pursue its strategy of capturing investment opportunities, particularly in challenging market conditions. This transaction demonstrates Dentons' expertise in advising on major cross-border equity offerings."

Cameron Half was supported on the transaction by London-based US securities associate Yash Ranade. Washington, DC partner Wendell Faria provided advice on US Investment Company Act matters. Argo BCVBA acted as Belgian counsel to VGP NV.

Dentons also advised VGP on its follow-on equity offering which was announced in December 2017

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