DGAP-Ad-hoc: ADO Properties S.A. / Key word(s): Disposal/Real Estate
ADO Properties S.A.: Discussions with Respect to Possible Sale of a Real Estate Portfolio
Berlin, September 16, 2019. In light of the current corresponding market rumors and in line with ADO Properties S.A.'s (the "Company") value creation strategy, the Company confirms that it is in discussions for the proposed sale of approximately 5,800 residential apartment units, together with some related commercial units and parking spaces. In this connection, the Company has entered into a non-binding Memorandum of Understanding outlining the understanding with respect to which current discussions are taking place. Any possible transaction, however, is subject to a number of matters that are yet to be agreed and various approvals that would be necessary, including the entering into of a definitive share purchase agreement.
The Company will report on the possible transaction in accordance with applicable laws.
Nicole Müller, Legal Counsel
16-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||ADO Properties S.A.|
|Phone:||+352 278 456 710|
|Fax:||+352 203 015 00|
|Indices:||SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX|
|EQS News ID:||874467|
|End of Announcement||DGAP News Service|
874467 16-Sep-2019 CET/CEST