ADLER Group SA, parent company of ADLER Real Estate Aktiengesellschaft, concludes term sheet on portfolio transaction with 15,350 residential units and 185 business units
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ADLER Real Estate AG / Keyword (s): Sale / Real estate
ADLER Group SA, parent company of ADLER Real Estate Aktiengesellschaft, concludes term sheet on portfolio transaction with 15,350 residential units and 185 business units
11-Oct-2021 / 04:55 CET / CEST
Disclosure of inside information acc. in Article 17 MAR of Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.
Publication of a notice in accordance with Article 17 (1) of the Market Abuse Regulation (Regulation (EU) No 596/2014)
ADLER Immobilier Aktiengesellschaft
NOT FOR DISTRIBUTION, PUBLICATION OR TRANSMISSION IN OR TO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN
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Berlin, October 11, 2021:
ADLER SA Group (“ADLER“), the parent company of ADLER Real Estate Aktiengesellschaft (“ADLER Real Estate“), and LEG Immobilien SE (“LEG“) today, with the approval of the Management Board and the Supervisory Board of ADLER Real Estate, signed a term sheet setting out the key points of an operation involving the sale of a total of 15,350 housing units and 185 commercial housing The project The transaction involves 8,120 residential units and 127 commercial units of ADLER Real Estate and 7,230 residential units and 58 commercial units of WESTGRUND Aktiengesellschaft (“WESTGRUND“), in which ADLER Real Estate holds 98.25% of the shares.
The transaction is based on a valuation of the real estate portfolio in the amount of 1.485 billion euros (ADLER Real Estate: approximately 644 million euros; WESTGRUND: approximately 841 million euros). This is higher than the respective book values ââat June 30, 2021. The transaction will be executed through share transactions and the ADLER group will retain a 10.1% stake in the entities concerned. Therefore, the cash inflow, also due to the usual purchase price adjustments, will not match the property valuation.
The closing of the transaction is subject to due diligence carried out by LEG, the conclusion of final agreements and the fulfillment of usual market conditions, in particular regulatory approvals, and should take place by the end of 2021.
Notifying person:
Colleen Yorke, Legal Counsel
+49 30 403 907 543
[email protected]
IMPORTANT INFORMATION
This press release is neither an advertisement nor a securities prospectus and should not be used to make an investment decision to buy, subscribe or otherwise acquire securities. The information and opinions contained in this press release are provided as of the date of this press release, are subject to change without notice, and do not purport to contain all of the information that may be necessary to assess ADLER Real Estate AG (“ADLER Real EstateNo confidence can or should be placed for any purpose whatsoever in the information contained in this press release, or any other information discussed orally, or its completeness, accuracy or fairness.
This press release is not and may not be published, distributed or transmitted in the United States of America, Canada, Australia or Japan. This press release does not constitute an offer to sell securities or a solicitation of an offer to buy securities of ADLER Real Estate in the United States of America, Australia, Canada, Japan or any other jurisdiction in which such offer, sale or solicitation is illegal. prior to registration or qualification under the securities laws of that jurisdiction. The securities referred to herein may not and will not be offered or sold in Australia, Canada or Japan or to, or on behalf of or for the benefit of, any national, resident or citizen of Australia. , Canada or Japan, subject to certain exceptions.
Certain statements contained in this press release may constitute “forward-looking statements” which involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “have”. “intention”, “project”, “goal” or “target” or the negative of these words or other variations of these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans which are inherently subject to material risks, as well as to uncertainties and contingencies subject to change. No representation is made or will be made by ADLER Real Estate except a statement forward-looking statements will be achieved or proven to be correct. The actual future business, financial condition, results of operations and prospects may differ materially from those projected or anticipated in the forward-looking statements. ADLER Real Estate assumes no obligation to up-to-date, and does not plan to publicly update, or revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as required by the law.
Berlin, October 11, 2021
ADLER Immobilier Aktiengesellschaft
Management team
11-Oct-2021 CET / CEST DGAP’s distribution services include regulatory announcements, financial / corporate news and press releases.
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