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Property companies Argan and WDP plan merger to create new €13 billion company

Published by Global Banking & Finance Review

Posted on July 23, 2026

1 min read

· Last updated: July 23, 2026

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Argan and WDP Announce €13 Billion Merger to Reshape Property Sector

Major Merger Details and Financial Implications

Announcement and Company Overview

PARIS, July 23 (Reuters) - Property companies Argan and Belgium's WDP announced on Thursday plans to merge and create a new company which they said would be worth €13 billion ($14.8 billion).

Share Exchange Structure

The deal would see three newly issued WDP shares for each Argan share.

Argan Shareholder Benefits

Exceptional Payout and Valuation

Argan would also propose an exceptional payout of €11 per share prior to completion of the merger, representing a total implied valuation of €79.22 per Argan share and marking a 21% premium to Argan's closing price of €65.40 on Thursday.

Currency Exchange Rate

($1 = 0.8791 euros)

Reporting Credits

(Reporting by Sudip Kar-Gupta; Editing by Chris Reese)

Key Takeaways

  • The merger implies a total implied valuation of €79.22 per Argan share, representing a 21 % premium to its July 23 closing price of €65.40 (total includes the €11 cash payout) via a 3-for-1 exchange ratio, creating a €13 billion enterprise. (tradingview.com)
  • Argan delivered strong H1 2026 results—rental income up 4 % to €110 million, 100 % occupancy, and portfolio valued at €4.3 billion—supplying solid momentum and portfolio strength ahead of the merger. (webdisclosure.com)
  • WDP continues to actively expand its logistics footprint, including recent investments: €52 million in southern France acquisitions and €63 million redevelopment plus landbank in the Netherlands, underlining its growth trajectory and development capability. (wdp.eu)

References

Frequently Asked Questions

What companies are involved in the €13 billion merger?
Argan and Belgium's WDP are the property companies planning to merge.
What is the share exchange ratio for the merger?
Three newly issued WDP shares will be offered for each Argan share.
Will Argan shareholders receive any additional payout?
Yes, Argan will propose an exceptional payout of €11 per share before the merger completes.
What is the implied valuation per Argan share in the merger?
The total implied valuation is €79.22 per Argan share, a 21% premium over the previous closing price.
Where was the merger news announced?
The merger was announced in Paris.

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