ADLER Real Estate AG

M&A Activity • Jan 18, 2017

News Details

Media | 18 January 2017 07:55

ADLER Real Estate AG: Sale of conwert stake successfully completed

DGAP-Media / 18.01.2017 / 07:55

ADLER Real Estate AG: Sale of conwert stake successfully completed

– 422 million euros received

– Proceeds to be used for debt reduction

– Significant impact on financial metrics

Berlin, 18 January 2017: ADLER Real Estate AG has received 422 million euros in connection with the successful tender of its 26 percent share in conwert Immobilien Invest SE to Vonovia SE. The transaction took place in the context of the voluntary takeover offer of Vonovia to the shareholders of conwert.

Consistent with its strategy to improve its performance, ADLER plans to use the proceeds from the transaction to buy back higher yielding bank and capital markets debt. The plan is expected to generate an additional c. 10 million euros in FFO I in the current financial year. In addition, significant improvements will be generated also in regards to its LTV ratio and WACD. Bringing the key metrics closer to industry peers will greatly increase ADLER’s ability to attract a wider investor base.

Arndt Krienen, CEO of ADLER Real Estate AG, said: “For both the company and its shareholders, the completion of the transaction is very good news. Not only have we generated an economic profit amounting to c. 50 million euros, but also the planned buyback of higher yielding debt is expected to generate a greater return than what can currently be achieved through portfolio acquisition.”

For inquiries please contact:

Dr. Rolf-Dieter Grass

ADLER Real Estate AG

Fon: +49 (0)30 2000 91 429

mailto: r.grass@adler-ag.com

End of Media Release

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Issuer: ADLER Real Estate AG

Key word(s): Real estate

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Language:	English
Company:	ADLER Real Estate AG
	Joachimsthaler Straße 34
	10719 Berlin
	Germany
Phone:	+49 (0)40 – 29 8130-0
Fax:	+49 (0)40 – 29 8130-99
E-mail:	info@adler-ag.com
Internet:	www.adler-ag.com
ISIN:	DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02
WKN:	500800, A14J3Z, A1R1A4, A11QF0
Indices:	SDAX, GPR General Index
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

End of News	DGAP Media