The two Belgian cooperatives have halted discussions on a potential merger that was mooted back in February
The management of Belgian cooperatives REO Veiling and Coöperatie Hoogstraten have announced a joint decision to terminate their merger discussions following the signing of a declaration of intent to investigate a potential merger in February.
“Further scrutiny following this declaration of intent identified excessive differences in operational context and organisational challenges,” a statement from the companies read. “Moreover, the insights gained during this process have necessitated both parties to set other short-term priorities in the further development of their cooperation.”
Coöperatie Hoogstraten and REO Veiling highlighted the “constructive manner” in which the discussions were held.
“This has created a solid relationship of trust and confidence focused on the identification of areas in which the parties could support each other going forward,” the statement continued. “It speaks for itself that both organisations will still decisively continue to collaborate during sectoral consultations.”
