Announcement concerning squeeze-out of minority shareholders in WESTGRUND AG
Berlin, December 29, 2016: ADLER Real Estate AG, Berlin, (ISIN: DE0005008007) announces that the Management Board has, with the consent of the Supervisory Board, resolved today that the company as the majority shareholder of WESTGRUND AG with registered office in Berlin conducts a squeeze-out of the minority shareholders in WESTGRUND AG according to §§ 327a ff. of the German Stock Corporation Act. For this, ADLER Real Estate AG has today informed WESGRUND AG that it will send a formal request according to § 327a, para. 1 sentence 1 of the German Stock Corporation Act that the shareholders’ meeting of WESTGRUND AG decides on the transfer of the shares of the remaining minority shareholders to ADLER Real Estate AG as the majority shareholder in exchange for an appropriate cash settlement (squeeze out).
Also today, ADLER Real Estate AG has signed a contract to acquire further shares from a shareholder in WESTGRUND AG to exceed the shareholdings in WESTGRUND AG to more than 95 percent whereby ADLER Real Estate AG becomes the majority shareholder (Hauptaktionär) in WESTGRUND AG in the sense of § 327a para. 1 sentence 1 of the German Stock Corporation Act.