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STOCKHOLM-Catella Property Consultants has shown its continued to commitment to European expansion by buying out the remaining minority stakes in its Dutch and Belgian subsidiaries.

In the Netherlands, Catella acquired the outstanding 35% stake in Equity Estate NV to bring its holding to 100%. Equity Estate is one of two subsidiaries in the Netherlands and specialises in property-related financial services and fund management. And in Belgium Catella acquired an additional 25.1% stake in Catella Codemer SA again bringing its holding to 100%. Catella Codemer is the leading property consultancy in the Brussels office market and employs more than 60 staff.

Catella’s Group Chief Executive Stefan Lennhammer said: ‘These acquisitions are logical steps in preparing the company for future expansion. They also confirm the increased integration of our group and reflect the commitment of local management teams to Catella’s continued growth in Europe’

Catella currently has 370 employees in Sweden, Denmark, Norway, Finland, Belgium, Holland, Germany, Spain, Austria, the United Kingdom and, most recently, France. The group reported turnover of approximately € 60 million($55 million) in 2000. At the year end it had €5.5 billion ($5 billion) of assets under management.

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