DGAP-Adhoc: ADLER Group S.A., indirect parent company of WESTGRUND, continues sales process and concludes term sheet on portfolio transaction with 14,368 units

2021. október 26., kedd, 10:24





DGAP-Ad-hoc: WESTGRUND Aktiengesellschaft / Key word(s): Disposal/Real Estate


ADLER Group S.A., indirect parent company of WESTGRUND, continues sales process and concludes term sheet on portfolio transaction with 14,368 units


26-Oct-2021 / 10:24 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Publication of a notice pursuant to Article 17 (1) of the Market Abuse Regulation (Regulation (EU) No. 596/2014)



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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:

Colleen Yorke, Legal Counsel

+49 30 403 907 543

c.yorke@adler-group.com



Berlin, 26 October 2021



WESTGRUND Aktiengesellschaft

Management Board






Contact:

Dr. Rolf-Dieter Grass

Head of Corporate Communication

Tel: 0172 3862558

Mail: grass@westgrund.de








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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







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