Javascript is disabled or not supported. Please enable JavaScript to display the website correctly.
If there are any problems, please contact us!

DIC Asset AG: Sale of TLG Share Block to Ouram Holding S.à.r.l. Completed

DGAP-News: DIC Asset AG / Key word(s): Investment

19.03.2019 / 08:30
The issuer is solely responsible for the content of this announcement.


Press Release

DIC Asset AG: Sale of TLG Share Block to Ouram Holding S.à.r.l. Completed

Frankfurt am Main, 19 March 2019. DIC Asset AG, one of Germany’s leading listed property companies, reported the disposal of a first block of shares of its TLG Immobilien AG stock holdings. The company had already announced its plan to dispose the TLG Immobilien AG holdings in December 2018. The buyer of the now sold stake is Ouram Holding S.à.r.l. (“Ouram”) who exercised its call option on a 6% block of shares of the TLG Immobilien AG equity, completing the transaction in accordance with the contractual agreement.
 
The result of the transaction amounts to 32.9 million Euro and is directly recognized within retained earnings without affecting the income statement. As of 31 December 2018, we have already recognized around 29.7 million Euro in the reserve for the financial instruments classified as at fair value through other comprehensive income. On transaction date, equity of DIC Asset AG has been increased by 3.2 million Euro compared to year end.
 
Analogously, the implementation of the sale and purchase agreement with Bedrock for a share block of about 8% in TLG Immobilien AG is scheduled for April 2019. This would successfully complete the sale of DIC Asset AG’s shares in TLG Immobilien AG, which amounted to a total of around 14% of that company’s share capital.
 
The sales proceeds are earmarked for DIC Asset AG’s own continued growth.

For more details on DIC Asset AG, visit the company’s homepage at www.dic-asset.de.
 

Investor Relations & Corporate Communications
DIC Asset AG
Nina Wittkopf
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20 – MainTor
D-60311 Frankfurt am Main
Phone +49 69 9454858-1462
Fax +49 69 9454858-9399
ir@dic-asset.de
 

 

About DIC Asset AG:
DIC Asset AG is one of Germany’s leading listed property companies, and specialises in commercial real estate. 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 178 assets with a combined market value of c. EUR 5.6 billion under management. DIC uses a hybrid business model to manage its business divisions Commercial Portfolio, Funds and Other Investments. Taking an active asset management approach, DIC employs its proprietary, integrated real estate management platform to raise capital appreciation potential in its business divisions and to boost its revenues.

In its Commercial Portfolio division (EUR 1.7 billion in assets under management), DIC 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. The Funds division (EUR 1.8 billion in assets under management) generates its revenues by acting as issuer and manager of special real estate funds for institutional investors. Gathered in the business unit Other Investments (EUR 2.1 billion in assets under management) are strategic financial investments, the management of properties in which the company holds no equity stakes, equity investments in property developments and joint venture investments. DIC Asset AG has been included 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. (as of: 31/12/2018)


19.03.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


show this