ADLER Real Estate AG

M&A Activity • Dec 20, 2016

News Details

Corporate | 20 December 2016 14:30

ADLER Real Estate AG: Vonovia takeover offer to conwert shareholders: ADLER chooses cash option

DGAP-News: ADLER Real Estate AG / Key word(s): Takeover

20.12.2016 / 14:30

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

---

Corporate News

Vonovia takeover offer to conwert shareholders:

ADLER chooses cash option

Berlin, December 20, 2016 – In the context of the successful voluntary takeover offer made by Vonovia SE to all shareholders of conwert Immobilien Invest SE, ADLER Real Estate AG tendered its c. 26 percent stake in conwert and has, with the consent of Vonovia, chosen the cash option.

ADLER will thus receive more than 422 million Euro in liquidity at the beginning of next year. In line with what has been disclosed by management the majority of the proceeds will be used to pay back higher yielding liabilities which will significantly strengthen the Company’s capital structure, reduce interest expenses and increase FFO. The transaction will not impact the expected performance of the key financial indicators of the current business year, and furthermore will bring with it an economic profit amounting to c. 48 million euros and a non-cash book loss of less than c. 19 million euros.

Arndt Krienen, CEO of ADLER Real Estate, said: “We are glad that the takeover was successful and that we were able to agree on the cash option with Vonovia too. We never were interested to become a strategic shareholder of Vonovia, even though the share option had been in the forefront of our agreement so far. The cash option now opens a much faster prudent and immediate scope for the consolidation of our finances in line with our targets and investors’ expectations.”

Contact:

Dr. Rolf-Dieter Grass

ADLER Real Estate AG

Tel: +49 (0)30 2000 91429

r.grass@adler-ag.com

---

20.12.2016 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:	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 News Service