|DGAP-News: ADLER Real Estate AG
/ Key word(s): Takeover
10.12.2019 / 10:08
The issuer is solely responsible for the content of this announcement.
ADLER Real Estate AG: Merger with ADO Group Ltd. successfully completed
Berlin, 10 December 2019 – As of today, ADLER Real Estate AG (ADLER) successfully completed the acquisition of 100% shares in ADO Group Ltd. (ADO Group) for c.EUR 708m resulting in ADLER holding a 33.25% stake in ADO Properties S.A. (ADO Properties). The proposed merger was announced on 23 September 2019 followed by merger control clearance and approval for merger by ADO Group’s shareholders which was voted at the EGM on 7 November 2019.
This transaction will create a German residential company with a real estate portfolio with a gross asset value (GAV) of EUR 8.5bn on a fully consolidated basis. It will deliver greater scale and geographical diversification, but also speed up de-levering process as well as accelerate changes to our dividend policy. ADLER will be looking to pass on the dividend received from ADO Properties to its own shareholders.
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|Company:||ADLER Real Estate AG|
|Joachimsthaler Straße 34|
|Phone:||+49 30 398 018 10|
|Fax:||+49 30 639 61 92 28|
|ISIN:||DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02|
|WKN:||500800, A14J3Z, A1R1A4, A11QF0|
|Indices:||SDAX, GPR General Index|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||932193|
|End of News||DGAP News Service|