DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Miscellaneous
22.08.2019 / 07:30
DIC Asset AG Presents Future Corporate Structure after Merger with GEG
Frankfurt am Main, 22 August 2019. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, will announce the future corporate structure of the DIC Group today. Through its merger with GEG German Estate Group AG (“GEG”) in June 2019, DIC further strengthened its investment and asset management, which focuses on commercial real estate, and increased its institutional investor base to include additional domestic and international capital providers. On top of that, the takeover strengthens DIC’s capacity in the development business considerably.
In future, DIC will pool its third-party investment and asset management activities (the Institutional Business operating segment) under the GEG brand, which will enable it to deliver the entire spectrum of real estate services to institutional investors in a focused and effective approach. Dirk Hasselbring, who has so far served as board member in charge of the investment fund business, will transfer to the Management Board of GEG and join Christian Bock, who has been responsible for setting up and expanding the investment and asset management platforms of GEG since the company’s formation in 2015, to jointly manage the institutional business. Sonja Wärntges, CEO of DIC Asset AG, will take over from Ulrich Höller to chair the Supervisory Board of GEG as of 01 October 2019. In the Institutional Business segment, DIC currently has c. EUR 5.3 billion euros under management through its subsidiary GEG. It generates income by structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.
Medium-Term Growth of Assets under Management to EUR 10 Billion
“The merger is being implemented successfully. With the company now restructured, we intend to strengthen the institutional business via the GEG brand and to keep expanding it,” commented Sonja Wärntges, CEO of DIC.
“We look forward to the task of taking GEG into the future together. Our just expanded spectrum of real estate services enables us to offer bespoke investment solutions to our clients, which our experienced real estate teams will efficiently structure and implement, using their local market know-how,” added Christian Bock and Dirk Hasselbring.
About DIC Asset AG:
With around 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has 175 assets with a combined market value of c. EUR 7.1 billion under management (as of 30/06/2019). Taking an active asset management approach, DIC Asset AG employs its proprietary, integrated real estate management platform to raise capital appreciation potential company-wide and to boost its revenues.
In its Commercial Portfolio division (EUR 1.8 billion in assets under management), DIC Asset AG acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio.
In the Institutional Business division (EUR 5.3 billion in assets under management), DIC Asset AG generates income from structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.
DIC Asset AG has been listed in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company’s shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies.
IR Contact DIC Asset AG:
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||DIC Asset AG|
|Neue Mainzer Straße 20|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1492|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9|
|WKN:||A1X3XX, A12T64, A2GSCV, A2NBZG|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||860911|
|End of News||DGAP News Service|