Accentro Real Estate AG

M&A Activity • May 10, 2014

News Details

Ad-hoc | 10 May 2014 15:07

ESTAVIS AG: Management Board and Supervisory Board of ESTAVIS AG Advise Shareholders to Accept the Exchange Offer by ADLER Real Estate AG

ESTAVIS AG / Key word(s): Statement/Offer

10.05.2014 15:07

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

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Berlin, 09 May 2014 - Today, the management board and supervisory board of
Berlin-based ESTAVIS AG ("ESTAVIS") passed their joint statement of
position pursuant to Art. 27, German Act on Securities Acquisition and
Takeovers (WpUG). According to the statement, and following a diligent
review of the exchange offer submitted by ADLER Real Estate AG domiciled in
Frankfurt am Main ("ADLER"), their recommendation to the shareholders is to
accept the offer. The joint statement of position will be released on 09
May 2014.

Management board and supervisory board rate the offered exchange ratio of
25 ESTAVIS shares in return for 14 ADLER shares as fair from a financial
point of view. Management board and supervisory board obtained a fairness
opinion from IPONTIX Equity Consultants GmbH in this context.

• End of communiqué for immediate release -

About ESTAVIS:
Estavis AG is a listed property company focusing on residential properties.
The company buys up selected housing portfolios for the purpose of managing
them long-term. Accentro, a subsidiary of Estavis and the company's second
mainstay, is Germany's market leader in housing privatisations as a
service. Estavis AG is headquartered in Berlin and is listed on the Prime
Standard of the Frankfurt Stock Exchange (German Securities Code Number
[WKN]: A0KFKB).

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

10.05.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Germany
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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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