DGAP-Ad-hoc: TTL Beteiligungs- und Grundbesitz-AG / Key word(s): Investment
Munich, 17 May 2021
TTL AG increases stake in Montano Asset Management GmbH to 50 percent
TTL Beteiligungs- und Grundbesitz-AG ("TTL", "TTL AG") (ISIN DE0007501009) acquires additional 20 percent of Montano Asset Management GmbH ("Montano"). The company is thus exercising an option that enables it to increase the stake it acquired in the real estate specialist in December 2020 from 30 percent to 50 percent.
The increase in the shareholding is implemented via the subscription of a capital increase by TTL AG. In the recent months, TTL and Montano have initiated several promising projects, some of which will enter the implementation phase at the beginning of the second half of the year. In addition, Montano intends to use the generated inflow of funds to continue its planned growth path at a faster pace.
The acquisition of the additional 20 percent of Montano is the last step in TTL's two-part investment in the high-growth real estate asset manager. The closing of the transaction is scheduled for May 2021.
Montano Asset Management GmbH is one of the leading independent core-plus and value-add real estate managers in the German commercial real estate market with property assets under management of currently around EUR 1.6 billion.
17-May-2021 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:||1196979|
|End of Announcement||DGAP News Service|
1196979 17-May-2021 CET/CEST