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PATRIZIA AG
M&A Activity • Nov 12, 2017
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M&A Activity
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News Details
Ad-hoc | 12 November 2017 23:35
PATRIZIA Immobilien AG: PATRIZIA acquires TRIUVA, placing it amongst the top 10 European real estate investment managers
PATRIZIA Immobilien AG / Key word(s): Takeover
PATRIZIA Immobilien AG: PATRIZIA acquires TRIUVA, placing it amongst the top 10 European real estate investment managers
12-Nov-2017 / 23:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
PATRIZIA Immobilien AG announces that it has acquired TRIUVA Kapitalverwaltungsgesellschaft mbH, significantly expanding its business in Germany and Europe.
TRIUVA is one of the leading providers of real estate investments in Europe. The company manages around 40 funds, partners with more than 80 institutional investors and consists of around 200 employees across its 15 European locations. The Frankfurt-based company focuses on commercial real estate in the office, retail and logistics sectors as well as infrastructure. Currently, TRIUVA manages real estate assets of around EUR 9.8 billion.
The acquisition increases PATRIZIA’s assets under management by around 50 per cent to more than EUR 30 billion, placing the company firmly amongst the top 10 European real estate investment managers. Furthermore, this will broaden PATRIZIA’s product range, enabling institutional and private investors to access new markets, asset classes and risk profiles with their investments.
In a first step PATRIZIA will acquire a majority stake in TRIUVA. Both parties agreed to not disclose the purchase price. The acquisition will be financed by existing liquidity. PATRIZIA will publish details with regards to the positive financial impact of the acquisition together with its full-year 2017 results in the first quarter of 2018. PATRIZIA expects the transaction to close at the end of the first quarter 2018 at the latest and to be earnings accretive in the year of acquisition.
Contact:
Martin Praum
Group Head of Investor Relations
Phone: +49 821 50910-402
12-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | PATRIZIA Immobilien AG |
| Fuggerstraße 26 | |
| 86150 Augsburg | |
| Germany | |
| Phone: | +49 (0)821 – 509 10-000 |
| Fax: | +49 (0)821 – 509 10-999 |
| E-mail: | [email protected] |
| Internet: | www.patrizia.ag |
| ISIN: | DE000PAT1AG3 |
| WKN: | PAT1AG |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |