ESTAVIS AG (FRA:E7S) ESTAVIS AG: Estavis AG Approves Acquisition of Majority Interest in Property Company in Chemnitz

Directive transparence : information réglementée

16/09/2013 18:06
ESTAVIS AG / Key word(s): Investment/Real Estate 16.09.2013 18:06 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Berlin, 16 September 2013 - The management board of ESTAVIS AG decided today, with the approval of the Group's supervisory board, to acquire 80% of the shares of J2P Real Estate AG. Based in Chemnitz, Saxony, the property company currently holds a portfolio of 160 residential units in Chemnitz and surrounding areas. The purchase price in a total amount of EUR 1.45 million will be paid in the form of a cash component of EUR 1.015 million and through the issuance of 174,000 shares of ESTAVIS AG stock denominated at EUR 2.50 each, which are yet to be created through an increase in kind. The private equity investment will serve as foundation of the planned portfolio expansion of ESTAVIS AG in Saxony. In addition to J2P Real Estate AG, the Berlin-based housing company will take over its facility management subsidiary J2P Services GmbH, which hold mandates for proprietary and third-party corporate residential portfolios. Both companies have access to historically grown networks on the Saxon housing market. - End of communiqué for immediate release - About ESTAVIS: Estavis AG is a listed property company focusing on residential real estate. The company selectively acquires residential portfolios with the intention of holding these assets long-term. Accentro, a subsidiary of Estavis and the Group's other mainstay, is the market leader in housing privatisation services in Germany. Estavis AG is headquartered in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB). Contact: ESTAVIS AG Investor & Public Relations Tel: + 49 30 887 181 799 E-mail: ir@estavis.de 16.09.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: ESTAVIS AG Uhlandstr. 165 10719 Berlin Germany Phone: +49 (0)30 - 887 181 - 0 Fax: +49 (0)30 - 887 181 - 11 E-mail: info@estavis.de Internet: http://www.estavis.de ISIN: DE000A0KFKB3 WKN: A0KFKB Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------