DIC Asset AG concentrates its logistics business in VIB Vermögen AG and increases its majority stake to 68%

Press release

DIC Asset AG concentrates its logistics business in VIB Vermögen AG and increases its majority stake to 68%

• DIC pools its logistics business in VIB via capital contribution in kind
• Future focus to strengthen position of DIC in logistics asset class
• Position as leading platform further consolidated
• High growth potential for entire DIC Asset Group

Frankfurt am Main, 28 November 2022. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, has increased its majority stake in the public limited company VIB Vermögen AG (“VIB”) to around 68% and has thereby further expanded its influence over the company. DIC is now pooling its entire logistics activities in VIB, which will act as logistics real estate arm of the DIC Asset Group (DIC Asset AG and its subsidiaries).

“It is an important step for the future of the DIC Asset Group. We will integrate VIB even more deeply in our company, and will clearly increase the tailwind for our commitment in this important asset class of logistics real estate. Especially in times like these, we are demonstrating through clear-cut strategic decisions that we are shaping the future and creating value for all of our stakeholders,” stated Sonja Wärntges, CEO of DIC Asset AG.

The background to the acquisition of additional shares is a capital increase against contribution in kind worth EUR 99 million by issuing 4,872,761 new no-par value shares, which was completed by resolution of the management board and supervisory board of VIB today. The funds from the capital increase will be used to acquire a logistics package worth c. EUR 99 million offered by the DIC Asset Group the package consisting of a logistics real estate portfolio worth c. EUR 56 million and of two property management companies worth c. EUR 43 million whose business is the management of logistics real estate on behalf of third parties.

As it takes over the associated management contracts, VIB will operate on the basis of the same strong two-pillar model as DIC, acting as asset holder of real estate that it owns outright, on the one hand, and as asset manager of third-party real estate, on the other hand. This will give VIB access to the highly profitable market of logistics real estate management on behalf of third parties.

DIC is thereby pooling its logistics real estate activities under the umbrella of its subsidiary VIB as planned, and further strengthening its position as leading real estate platform with office and logistics focus within the German real estate market.

About DIC Asset AG:

DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 359 assets with a combined market value of EUR 14.5 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.

DIC Asset AG has been SDAX-listed since June 2006.

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492
ir@dic-asset.de