AI Terminal
ADLER Real Estate AG
Legal Proceedings Report • Oct 26, 2021
16_rns_2021-10-26_aa9e54e3-2a04-4487-a1f8-0366ccf48355.html
Legal Proceedings Report
Open in ViewerOpens in native device viewer
News Details
Ad-hoc | 26 October 2021 10:21
ADLER Group S.A., parent company of ADLER Real Estate, continues sales process and concludes term sheet on portfolio transaction with 14,368 units
ADLER Real Estate AG / Key word(s): Disposal/Real Estate
ADLER Group S.A., parent company of ADLER Real Estate, continues sales process and concludes term sheet on portfolio transaction with 14,368 units
26-Oct-2021 / 10:21 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of a notice pursuant to Article 17 (1) of the Market Abuse Regulation (Regulation (EU) No. 596/2014)
——————————————————————————–
ADLER Group S.A., parent company of ADLER Real Estate, continues sales process and concludes term sheet on portfolio transaction with 14,368 units
Berlin, 26 October 2021:
ADLER Group S.A. (“ ADLER “), the parent company of ADLER Real Estate Aktiengesellschaft (“ ADLER Real Estate “), continues its sales process and have signed today, with the approval of the Management Board and the Supervisory Board of ADLER Real Estate, a term sheet with a leading alternative investment firm setting out the key points of a transaction regarding a total of 14,368 units. These units are mainly located in the Eastern part of Germany.
The proposed transaction relates to 6,322 residential units and 148 commercial units of ADLER Real Estate and 7,813 residential units and 85 commercial units of WESTGRUND Aktiengesellschaft (“ WESTGRUND “), in which ADLER Real Estate holds 98.25% of the shares.
According to the term sheet, the agreed real estate value for the portfolio amounts to more than EUR 1 billion (ADLER Real Estate: ca. EUR 460 million; WESTGRUND: ca. EUR 560 million). This is a premium compared to the respective book values appraised by CBRE as of 30 June 2021.
The closing of the transaction is subject to due diligence conducted by the buyer, the conclusion of final agreements and the fulfillment of customary market conditions, in particular regulatory approvals, and is expected to take place in Q1 2022.
Notifying Person:
Colleen Yorke, Legal Counsel
+49 30 403 907 543
Berlin, 26 October 2021
ADLER Real Estate Aktiengesellschaft
Management Board
26-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | ADLER Real Estate AG |
| Am Karlsbad 11 | |
| 10785 Berlin | |
| Germany | |
| Phone: | +49 30 39 80 18 10 |
| Fax: | +49 30 39 80 18 199 |
| E-mail: | [email protected] |
| Internet: | www.adler-ag.com |
| ISIN: | DE0005008007, XS1211417362 DE000A1R1A42 DE000A11QF02 |
| WKN: | 500800, A14J3Z A1R1A4 A11QF0 |
| Indices: | GPR General Index |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1243427 |
| End of Announcement | DGAP News Service |