ADLER Group S.A., indirect parent company of WESTGRUND, continues sales process and concludes term sheet on portfolio transaction with 14,368 units
|
DGAP-Ad-hoc: WESTGRUND Aktiengesellschaft / Key word(s): Disposal/Real Estate Publication of a notice pursuant to Article 17 (1) of the Market Abuse Regulation (Regulation (EU) No. 596/2014) ----- ADLER Group S.A., indirect parent company of WESTGRUND, continues sales process and concludes term sheet on portfolio transaction with 14,368 units Berlin, 26 October 2021: ADLER Group S.A. ("ADLER"), the indirect parent company of WESTGRUND Aktiengesellschaft ("WESTGRUND"), continues its sales process and have signed today, with the approval of the Management Board and the Supervisory Board of WESTGRUND, a term sheet with a leading alternative investment firm setting out the key points of a transaction regarding a total of 14.135 residential units and 233 commercial units. These units are mainly located in the Eastern part of Germany. The proposed transaction relates to 7,813 residential units and 85 commercial units of WESTGRUND. According to the term sheet, the agreed real estate value for the portfolio amounts to more than EUR 1 billion. This is a premium compared to the respective book values appraised by CBRE as of 30 June 2021. The value of the real estate of WESTGRUND amounts to ca. EUR 560 million. The closing of the transaction is subject to due diligence conducted by the buyer, the conclusion of final agreements and the fulfillment of customary market conditions, in particular regulatory approvals, and is expected to take place in Q1 2022. Notifying Person: Berlin, 26 October 2021 WESTGRUND Aktiengesellschaft Contact: Dr. Rolf-Dieter Grass Head of Corporate Communication Tel: 0172 3862558 Mail: grass@westgrund.de
26-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | WESTGRUND Aktiengesellschaft |
| Am Karlsbad 11 | |
| 10785 Berlin | |
| Germany | |
| Phone: | +49 30 39 80 18 10 |
| Fax: | +49 30 39 80 18 199 |
| E-mail: | info@westgrund.de |
| Internet: | www.westgrund.de |
| ISIN: | DE000A0HN4T3, DE000A14KCW5 |
| WKN: | A0HN4T, A14KCW |
| Listed: | Regulated Market in Dusseldorf; Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1243433 |
| End of Announcement | DGAP News Service |
|
|
1243433 26-Oct-2021 CET/CEST
