Chat with Filing

Ask questions about this document

Please log in or register to use the chat feature. Please register first.

RNS - TTL Beteiligungs- und Grundbesitz-AG: TTL Real Estate GmbH further increases strategic stake in DIC Asset

Company: TTL Beteiligungs- und Grundbesitz-AG Date: 2019-12-18 Language: English Register to download

Loading document preview...

Document Preview Not Available

The file type (.html) cannot be displayed directly here.

Open Original File

Error loading document preview. Please try the 'Open Original File' link.

You're One Click Away From The Full Filing

Instantly access this document—and 2.8M more—for free. Select your preferred method:

Continue with Google Continue with Microsoft Continue with Facebook Continue with Amazon

 News Details

Corporate | 18 December 2019 12:43

#   

TTL Beteiligungs- und Grundbesitz-AG: TTL Real Estate GmbH further increases strategic stake in DIC Asset

DGAP-News: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Investment  

18.12.2019 / 12:43  

The issuer is solely responsible for the content of this announcement.  

Munich, 18.12.2019

  

**TTL Real Estate GmbH further increases strategic stake in DIC Asset**

-   5 percent participation threshold nearly reached
-   Targeting intercompany participation (“Schachtelbeteiligung”) of 10 percent in the next step

  

TTL Real Estate GmbH, an affiliated company of TTL Beteiligungs- und Grundbesitz-AG (“TTL AG”, “TTL”) (ISIN DE0007501009), has increased its direct stake in DIC Asset AG (ISIN DE000A1X3XX4) to nearly 5 percent and currently holds approximately 3,3 million DIC Asset shares.

With the purchase of the landmark property “Stadthaus Köln” for EUR 500 million at the beginning of December, DIC Asset AG set a new record in the Institutional Business division with a total purchase volume of EUR 1.8 billion. DIC Asset’s goal is to increase its assets under management from currently EUR 7.3 billion to a total of EUR 10 billion in the medium term, with Institutional Business accounting for the major part.

“DIC Asset AG has more than successfully developed its Institutional Business division this year and also announced further growth in its Commercial Portfolio. We continue to see an interesting price level here solely due to the continued significant discount to the net asset value (EPRA NAV) of DIC Asset, which was reported at EUR 16.31 per share in the third quarter of 2019 and essentially reflects the value of the Commercial Business segment. Furthermore, this figure does not include the value of the cashflowstrong Institutional Business segment with an EBITDA of EUR 45 million. DIC Asset itself calculated the total value of both divisions at between EUR 20.71 and EUR 22.21 per share. The TTL Group has therefore used the attractive share prices of recent weeks to further increase its strategic stake in DIC Asset AG,” says Theo Reichert, CEO of TTL AG.

TTL Real Estate GmbH plans to further expand its DIC Asset Investment on the basis of the current and forecast business development and, after reaching the 5 percent threshold, is aiming for an intercompany participation (“Schachtelbeteiligung”) of 10 percent in DIC Asset AG in the next step.

  

**Media and Investor Relations contact**

Annette Kohler-Kruse  

Instinctif Partners  

Tel. +49 89 3090 5189-23  

[ir@ttl-ag.de](mailto:ir@ttl-ag.de)  

[presse@ttl-ag.de](mailto:presse@ttl-ag.de)

  

- - -

18.12.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.  

The issuer is solely responsible for the content of this announcement.  

  

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Archive at www.dgap.de  

- - -

|     |     |
| --- | --- |
| Language: | English |
| Company: | TTL Beteiligungs- und Grundbesitz-AG |
|     | Theresienhöhe 28 |
|     | 80339 München |
|     | Germany |
| Phone: | +49 (0)89 381611-0 |
| Fax: | +49 (0)89 3915-92 |
| E-mail: | ir@ttl-ag.de |
| Internet: | www.ttl-ag.de |
| ISIN: | DE0007501009 |
| WKN: | 750100 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 938881 |

  

|     |     |
| --- | --- |
|     |     |
| End of News | DGAP News Service |

![show this](https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=938881&application_name=news&site_id=news_data)