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Gateway Real Estate AG
M&A Activity • Feb 3, 2021
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M&A Activity
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News Details
Ad-hoc | 3 February 2021 21:48
Gateway Real Estate AG sells Development Partner AG and further commercial project developments
Gateway Real Estate AG / Key word(s): Disposal/Real Estate
Gateway Real Estate AG sells Development Partner AG and further commercial project developments
03-Feb-2021 / 21:48 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.
Gateway Real Estate AG sells Development Partner AG and further commercial project developments
Frankfurt am Main, February 03, 2021 . Today, Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7) signed a share purchase agreement for all shares of Development Partner AG as well as its business shares in three further project companies (51% of the business shares each of the project companies Revaler Straße 32 PE GmbH, Storkower Straße 140 PE GmbH and Storkower Straße 142-146 PE GmbH). Thereby, the company entirely ends its activities in the “commercial properties development” segment and will only concentrate on the residential properties area in the future. Purchasers are private investors.
The total sales proceeds are in the lower three-digit million euro range. According to preliminary calculations based on figures not yet finally audited, the positive deconsolidation result on the balance sheet at group level is expected in the lower double-digit million euro range.
Closing of the share purchase is subject to conditions precedent and is intended for the beginning of March 2021.
Contact:
Sven Annutsch
The Squaire No. 15
60549 Frankfurt am Main
T +49 (0) 69 78808800 0
F +49 (0) 69 78 80 88 00-99
E-Mail: [email protected]
03-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Gateway Real Estate AG |
| THE SQUAIRE – Zugang N°15,Am Flughafen 1 | |
| 60549 Frankfurt/Main | |
| Germany | |
| Phone: | +49 (0) 69 788 088 00 -0 |
| Fax: | +49 (0) 69 788 088 00 – 99 |
| E-mail: | [email protected] |
| Internet: | www.gateway-re.de |
| ISIN: | DE000A0JJTG7 |
| WKN: | A0JJTG |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart |
| EQS News ID: | 1165654 |
| End of Announcement | DGAP News Service |