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ADLER Real Estate AG: Takeover of ESTAVIS successfully completed
ADLER Real Estate AG / Key word(s): Miscellaneous
25.06.2014 / 14:03
ADLER Real Estate: Takeover of ESTAVIS successfully completed
- 92.7 percent of ESTAVIS' share capital taken over
- Significant growth driver
Hamburg, 25 June 2014 - ADLER Real Estate AG, Frankfurt/M., (ISIN DE0005008007) has successfully completed the takeover of ESTAVIS AG, Berlin (ISIN DE000A0KFKB3 or ISIN DE000A1YC9Y3 for the non-registered shares). After expiration of the period of acceptance of the exchange offer such as the expiration of the additional period for acceptance, which ended on 13 June 2014, it is now definite that the exchange offer has been accepted for a total of 21,465,229 ESTAVIS shares. This is equivalent to approx. 92.7 percent of the share capital of ESTAVIS, which amounts to EUR 23.152 million. The ADLER shares which were offered for exchange derive from the capital increase against contributions in kind which was approved in April 2014 and was recorded in the commercial register yesterday. ADLER had offered to convert each 14 of its shares against 25 shares of ESTAVIS.
"We are pleased that our exchange offer has been accepted by such a large majority and with the entry in the commercial register now all conditions for closing of our offer have been met", comments Axel Harloff, CEO of ADLER Real Estate AG. With the now successful takeover ADLER makes another major step forward on its mission for an important residential real estate company. Including the residential units owned by ESTAVIS and the residential real estate portfolio which already has been contractually secured by ESTAVIS, ADLER Group will hold approx. 16,500 residential units. By taking into consideration the acquisition of another substantial residential real estate portfolio consisting of around 7,700 residential and almost 500 commercial units, which was contractually concluded at the end of May, the property portfolio of the constantly growing ADLER Group will amount to approx. 24,800 units.
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Presse: german communications dbk ag
Investor Relations: Hillermann Consulting
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25.06.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG.
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|Company:||ADLER Real Estate AG|
|Phone:||+49 (0)40 - 29 8130-0|
|Fax:||+49 (0)40 - 29 8130-35|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg|
|End of News||DGAP News-Service|