Accentro Real Estate AG

M&A Activity • Sep 25, 2007

News Details

Ad-hoc | 25 September 2007 17:57

ESTAVIS AG significantly expands its private customer business through further acquisition

ESTAVIS AG / Acquisition

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Berlin, 25 September 2007 – ESTAVIS AG (ISIN: DE000A0KFKB3) has agreed to
acquire 100 per cent of the shares of B&V Bauträger- und
Vertriebsgesellschaft für Immobilien mbH, Berlin ('B&V GmbH'). The
acquisition will become effective upon approval by the Supervisory Board of
ESTAVIS AG ('ESTAVIS').

In 2006, B&V GmbH generated revenues of approximately EUR 65 million with
an EBIT margin of around 13 per cent, and in recent years, has had growth
rates in the double-digit range. ESTAVIS has also agreed to acquire PROTECT
GmbH focussing on the brokerage of capital investments.

The consideration for the acquisition of the two companies comprises EUR 12
million of cash and 375,000 ESTAVIS shares. For this purpose, ESTAVIS will
issue 375,000 new shares out of the authorised share capital. The shares
issued are subject to a lock-up agreement which prohibits the sale within
the next 2 years. The effective date of the acquisition for the purpose of
the economic transition of the acquired companies is 1 January 2007. The
two managing associates of B&V GmbH will continue to operate the business.

The acquisition of the companies will strengthen the activities of ESTAVIS
AG in the growing fields of private, real estate-based capital investment
and retirement provision operated by its subsidiaries CWI Real Estate AG,
Bayreuth, and Hamburgische Immobilien Invest SUCV AG, Hamburg. With an
expected combined volume amounting to more than 1,000 single residential
units sold in the current financial year, the ESTAVIS Group will become one
of the leading suppliers in this market segment.

B&V GmbH and PROTECT GmbH specialise in the redevelopment, modernisation
and sale of premium, mostly listed, properties in central locations. These
properties are sold before redevelopment or modernisation, and let after
the completion of the construction works. The properties are particularly
suitable for capital investment and retirement provision as a result of
capital allowances for listed properties and comparatively high rental
yields. The business’ regional focus is currently on Baden-Wurttemberg and
Saxony, Germany.

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Information and Explaination of the Issuer to this News:

'Due to the demographic development in Germany and the growing need for
private retirement provisions, the private demand for premium real estate
as a capital investment is increasing considerably,' said Rainer Schorr,
Chairman of the Management Board of ESTAVIS AG. 'The acquisition of B&V
GmbH is a further important step in our diversification strategy and puts
us in an eminent position to participate in the expected high growth of
this market segment.'

Contact:
ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887
181 799 - E-Mail: ir@estavis.de

25.09.2007 Financial News transmitted by DGAP

Language: English
Issuer: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Deutschland
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info@estavis.de
Internet: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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