DGAP-Ad-hoc: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Investment
Munich, 09 December 2020
TTL continues growth strategy and acquires a stake in Montano Asset Management GmbH
TTL Beteiligungs- und Grundbesitz-AG ("TTL", "TTL AG") (ISIN DE0007501009) has acquired a 30 percent stake in Montano Asset Management GmbH (Montano) by agreement concluded today.
TTL invests through the acquisition of shares from current Montano shareholders and the subscription of a capital increase. The enterprise value underlying the purchase price amounts to nine times the expected adjusted EBITDA of about EUR 2.4 million for 2020 of Montano. The closing of the transaction is scheduled for December 2020.
Montano Asset Management GmbH is one of the leading independent core-plus and value-add real estate managers in Germany. The value of the real estate assets under management is around EUR 1.5 billion and is spread over around 70 properties, with office properties accounting for around 80 percent and retail properties for 20 percent.
For TTL, the strategic added value of the Montano investment results from significantly improved access to Investments and a diversified earnings structure from joint projects.
09-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||TTL Beteiligungs- und Grundbesitz-AG|
|Phone:||+49 (0)89 381611-0|
|Fax:||+49 (0)89 3915-92|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1153945|
|End of Announcement||DGAP News Service|
1153945 09-Dec-2020 CET/CEST