Berlin, October 20, 2017 – ADLER Real EstateAG (ISIN: DE0005008007) today announced an agreement to sell an approximately 80% stake in ACCENTRO Real Estate AG (ISIN: DE000A0KFKB3) as well as approximately 92% of the 2014/2019 convertible bonds issued by ACCENTRO Real Estate AG (ISIN DE000A1YC4S6). This corresponds to a total stake of 82% on a fully diluted basis. The buyer is a partnership advised by Vestigo Capital Advisors LLP, a firm authorized and regulated by the UK Financial Conduct Authority. The total purchase price amounts to approximately EUR 180 million. The agreement provides for an initial payment by the buyer upon signing the contract and—subject to market-standard interest rates and appropriate collateral—the payment of further installments over the course of the next 13 months. In addition, ADLER Real Estate AG has the option to sell an additional stake of up to approximately 6% in ACCENTRO Real Estate AG at the same price per share to the partnership advised by Vestigo Capital Advisors LLP. The transaction is scheduled to close by the end of November at the latest.
The completion of the transaction is expected to trigger a mandatory offer by the buyer for all shares of ACCENTRO Real Estate AG under the German Securities Acquisition and Takeover Act, unless the buyer publishes a qualifying voluntary public takeover bid for all shares of ACCENTRO Real Estate AG.
Identity of the person making the announcement: Jacopo Mingazzini, Member of the Executive Board
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in residential privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the sale of apartments to owner-occupiers and private investors at rent-level prices, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for property owners, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
October 20, 2017 / 5:55 p.m. CET/CEST / Publication of inside information pursuant to Article 17 of the Market Abuse Regulation (MAR)
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