ADLER Real Estate AG / Key word(s): Disposal
30.12.2013 13:24
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Notifice in Accordance with § 15 of the Securities Trading Act
ADLER Real Estate sells minority interests
- at-equity-Valuation from nine-months results realised
- Cash inflow of EUR 3.0 million
Hamburg, 30 December 2013. ADLER Real Estate AG, Frankfurt/M. (ISIN
DE0005008007) has sold its 49 percent stake in a real estate portfolio
which was acquired at the end of August 2013 to its joint venture partner.
The transaction has no additional effect on earnings but confirms over 90
percent of the at-equity-valuation of approx. EUR 9.0 million which had
already been reflected in the results of the company's third quarter
report. In addition ADLER will receive liquidity in the amount of EUR 3.0
million. The sale of the investment is related to the long term strategy of
retaining only majority-run portfolios.
The portfolio originally included approx. 2,100 residential units and was
acquired by the beginning of May 2013. As part of the acquisition of the
portfolio 51 percent of the holdings were sold to a joint venture partner
by the end of August. At the same time the holding company of the entire
portfolio also sold 900 residential units. ADLER will use the additional
liquidity for the acquisition of residential property portfolios with
potential for appreciation.
The Management Board
For inquiries please contact:
Press: german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg, Germany
Phone: +49-(0)40/46 88 33 0
Fax: +49-(0)40/47 81 80
presse@german-communications.com
Investor Relations: Hillermann Consulting
Christian Hillermann
PoststraÃe 14, 20354 Hamburg, Germany
Phone: +49-(0)40/32 02 79 10
Fax: +49-(0)40/32 02 79 114
c.hillermann@hillermann-consulting.de
30.12.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ADLER Real Estate AG
Alstertor 17
20095 Hamburg
Germany
Phone: +49 (0)40 - 29 8130-0
Fax: +49 (0)40 - 29 8130-35
E-mail: info@adler-ag.com
Internet: www.adler-ag.com
ISIN: DE0005008007, DE000A1R1A42,
WKN: 500800, A1R1A4
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg
End of Announcement DGAP News-Service
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DGAP-Adhoc: ADLER Real Estate AG: ADLER Real Estate sells minority interests
| Source: EQS Group AG