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TTL Beteiligungs- und Grundbesitz-AG
M&A Activity • Jul 2, 2019
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M&A Activity
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Corporate | 2 July 2019 08:30
TTL Beteiligungs- und Grundbesitz-AG: Final Closing: TTL Group receives further EUR 9 million from the GEG sale
DGAP-News: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Disposal
02.07.2019 / 08:30
The issuer is solely responsible for the content of this announcement.
Munich, 2 July 2019
Final Closing: TTL Group receives further EUR 9 million from the GEG sale
- Final closing faster than expected
- Net cash inflow totalling EUR 165 million for TTL Real Estate GmbH
TTL Real Estate GmbH, an associated company of TTL Beteiligungs- und Grundbesitz-AG (“TTL AG”, “TTL”) (ISIN DE0007501009) receives further EUR 9 million from the sale of GEG German Estate Group. After fulfilment of a still outstanding condition, the second and final closing took place faster than expected.
“We were able to conclude the sale of the GEG German Estate Group quickly. Now we can drive the growth of our transaction platform with all our strength”, explains Theo Reichert, CEO of TTL AG.
TTL Real Estate GmbH already received around EUR 160 million on 5 June 2019 as part of the first closing from the GEG sale. As of 1 July 2019, EUR 9 million will be added from the second closing. After deduction of transaction costs, the net cash inflow for TTL Real Estate GmbH amounts to EUR 165 million.
Media and investor relations contact
Annette Kohler-Kruse
Instinctif Partners
Tel. +49 89 3090 5189-21
02.07.2019 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.
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| 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: | [email protected] |
| 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: | 834405 |
| End of News | DGAP News Service |